Presanted beloware selected ledgeraccounts of Waterway Corporatian as of December 31, 2020 Cash $58,000 Administrative expanses 116,000 Selling axpanses 92800 Net sales 626,400 Cost of goods sold 243,600 Cash dividends declarad (2020) 23,200 Cash dividends paid (2020 17,400 Discontinued operations (loss before income taxas 46400 Dapraciation xpanse, nat racorded in 2019 Retained earnings, December 31, 2019 Effective taxrate 209% 34,800 104,400 Compute net income for 2020, Nat incoma $ eTextbook and Medla Praparaa partial income statemant beginning with income from continuing operations before income tax, and including appropriate camings per share information. Assume 10,000 shares of common stock were outstanding during 2020. (Round arnings par shore to 2 decimal places, as 158) WATERWAY CORPORATION Income Statement For tha Year Ended December 31, 2017