Preparing a Multiple-Step Income Statement The following items are from the adjusted trial balance of Bailey Corp. on December 31, 2020, the end of its annual accounting period. Assume an average 25% income tax on all items. Weighted average shares of common stock outstanding for 2020 were 10,000. Sales revenue Depreciation for the period Rent revenue Gain on sale of investment Cost of goods sold $645,200 Selling expenses $136,000 6,000 General and administrative expenses 110,000 2,400 Interest revenue 900 1,500 22,000 2,000 Interest expense 330,000 Loss on sale of investment Required Prepare a multiple-step income statement for the 12 months ended December 31, 2020, including the earnings per share disclosure. Assume that rent revenue is a nonoperating revenue. Enter revenues and gains and expenses and losses in the order of the largest dollar amount to the smallest dollar amount. Do not use negative signs with any of your answers. Enter the answer for earnings per share in dollars and cents, rounded to the nearest penny. Bailey Corp. Income Statement For the Year Ended December 31, 2020 Operating expenses Other revenues and gains Other expenses and losses Earnings per share IA $ LA $ LA