Pharoah Corporation had net sales of $2,427,500 and interest revenue of $40,000 during 2017. Expenses for 2017 were cost of goods sold $1,465,500, administrative expenses $220,600, selling expenses $289,300, and interest expense $47,900. Pharoahs tax rate is 30%. The corporation had 103,100 shares of common stock authorized and 71,990 shares issued and outstanding during 2017. Prepare a condensed multiple-step income statement for Pharoah Corporation. (Round earnings per share to 2 decimal places, e.g. 1.48.) PHAROAH CORPORATION Income Statement December 31, 2017For the Year Ended December 31, 2017For the Quarter Ended December 31, 2017 DividendsEarnings Per ShareExpensesGross Profit / (Loss)Income Before Income TaxIncome From OperationsNet Income / (Loss)Net SalesRetained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal RevenuesOther Revenues and GainsOther Expenses and Losses $ Dividends Earnings Per Share Expenses Gross Profit / (Loss) Income Before Income Tax Income From Operations Net Income / (Loss) Net Sales Retained Earnings, January 1 Retained Earnings, December 31 Revenues Total Expenses Total Revenues Other Revenues and Gains Other Expenses and Losses $ DividendsEarnings Per ShareExpensesGross Profit / (Loss)Income Before Income TaxIncome From OperationsNet Income / (Loss)Net SalesRetained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal RevenuesOther Revenues and GainsOther Expenses and Losses DividendsEarnings Per ShareExpensesGross Profit / (Loss)Income Before Income TaxIncome From OperationsNet Income / (Loss)Net SalesRetained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal RevenuesOther Revenues and GainsOther Expenses and Losses DividendsEarnings Per ShareExpensesGross Profit / (Loss)Income Before Income TaxIncome From OperationsNet Income / (Loss)Net SalesRetained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal RevenuesOther Revenues and GainsOther Expenses and Losses DividendsEarnings Per ShareExpensesGross Profit / (Loss)Income Before Income TaxIncome From OperationsNet Income / (Loss)Net SalesRetained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal RevenuesOther Revenues and GainsOther Expenses and Losses DividendsEarnings Per ShareExpensesGross Profit / (Loss)Income Before Income TaxIncome From OperationsNet Income / (Loss)Net SalesRetained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal RevenuesOther Revenues and GainsOther Expenses and Losses $ DividendsEarnings Per ShareExpensesGross Profit / (Loss)Income Before Income TaxIncome From OperationsNet Income / (Loss)Net SalesRetained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal RevenuesOther Revenues and GainsOther Expenses and Losses $