Net sales Cast of goods sold Selling expenses Administrative expenses Dividend revenue Interest revenue Interest exper $5,655,000 3,490,000 275,500 203,000 87,000 58,000 130,500 Write-off of goodwill due to impairment 217,500 Depreciation expense omitted in 2018 304,500 Dividends declared 348,000 Effect on prior years of change in accounting principle (credit) 638,000 Lass from operations of discontinued component of business Gain from disposal of component of busines 696,000 870,000 Federal tax rate of 30% on all items Prepare a multiple-step income statement for 2020. Assume the 200,000 shares of common stock were outstanding during 2020. Round earnings per share to 2 decimal places, e.g. 5.25.) Wild horse Corp. INCOME STATEMENT Forthe Year Ended December 31,2020 old 2199 Expens xerationa and Calta 2004 and Lo 275500 203000 58000 87000 $ 5655000 3490000 2175000 478500 1696500 $70,000 1,015,000 130500 rite-off of Goodwill 217,500 696,000 1,667,500 500250 $ man stock: X $ >Share $ 167250