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Cullumber 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. Cullumber's 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 Cullumber Corporation. (Round earnings per share to 2 decimal places, e.g. 1.48.) CULLUMBER CORPORATION Income Statement For the Year Ended December 31, 2017 Net Sales 2,427,500 Cost of Goods Sold 1465500 Gross Profit/ (Loss) 962000 Selling Expenses 289300 Administrative Expenses 220600 509900 Income From Operations 452100 Other Revenues and Gains Interest Revenue