OURCES ments 2020) 56.096 Problem 4-(Part Level Submission) The following account balances were included in the trial balance of Swifty Corporation at June 30, 2017 Sales revenue $1,593,520 Depreciation expense (office furniture and equipment) Sales discounts 32,700 Property tax expense Property ta Cost of goods sold 901.800 Bad debt expense (selling) Salaries and wages expense (sales) 56,930 Maintenance and repairs expense administration) Sales commissions 99,240 mce expense Travel expense (salespersons) 30,000 Sales returns and a lowances Delivery expense 22,810 Dividends received Entertainment expense 14,950 Interest expense Telephone and Internet expense (sales) 9,040 Income tax expense Depreciation expense (sales equipment) 4,570 Depreciation understatement due to error2014 (net of tax) Maintenance and repairs expense (sales) 5,928 Dividends declared on preferred stock Miscellaneous selling expenses 5,026 Dividends declared on common stock Omice supplies used Telephone and Internet expense administration) 2,642 8,700 6,540 01,880 39,000 19,350 100,240 17,792 8,320 37,670 3,739 The Retained Earnings account had a balance of $366,280 at July 1, 2016. There are 78,920 shares of common stock outstanding. Using the multiple-step formy prepare an income statement for the year ended June 10, 2017. (Round earnings per share to 2 decimal places, e.. 1.48.) SWIFTY CORPORATION Income Statement