Preparing a Single-Step and a Multiple- Step Income Statement The following selected items are taken from the accounting records of Amick Corp. at December 31. Sales revenue $1,710,000 Cost of goods sold 1,035,000 Dividends received on investment in stocks 11,700 Interest expense 7,560 Loss on sale of investments 86,400 Promotion expense 27,000 Shipping expense 45,000 Depreciation (50% selling, 50% general and administrative) 36,000 Salaries (general and administrative) 144,000 Other general and administrative expenss 41,400 Salaries (selling) 153,540 Interest revenue Income tax rate 4,500 25% Number of common stock shares 20,000 a. Prepare a single-step income statement (including earnings per share). Include income taxes in its own section. Note: Use a negative sign only for an expense or loss item included in the section Other Revenues (Expenses). Note: Enter the answer for earnings per share in dollars and cents, rounded to the nearest penny. Amick Corp. Income Statement For the Year Ended December 31 Revenues and gains Sales revenue Dividend revenue Interest revenue Total revenues and gains Expenses and losses Interest expense Loss on sale of investments Promotion expense Shipping expense Depreciation expense Salaries expense Other general and administrative expenses Salaries expense (selling) Total expenses and losses Income before income taxes Income tax expense Net income $ 1710000 11700 4500 1726200 7560 86400 27000 45000 36000 144000 x 41400 358515 * 153540 x 20000 X $ 133540 x Amick Corp. Income Statement For the Year Ended December 31 Operating expenses Selling expenses: General and administrative expense: Other revenues (expenses) +A > > > > > > > > > > > XXX XXXX > > > > > > > XXXX