Presented below are selected ledger accounts of Swifty Corporation as of December 31, 2020. Cash Administrative expenses Selling expenses Net sales Cost of goods sold Cash dividends declared (2020) Cash dividends paid (2020) Discontinued operations (loss before income taxes) Depreciation expense, not recorded in 2019 Retained earnings, December 31, 2019 Effective tax rate 20% $42,000 84,000 67,200 453,600 176,400 16,800 12,600 33,600 25,200 75,600 Compute net income for 2020. Net income $ Prepare a partial income statement beginning with income from continuing operations before income tax, and including appropriate earnings per share information. Assume 10,000 shares of common stock were outstanding during 2020. (Round earnings per share to 2 decimal places, e.g. 1.58.) SWIFTY CORPORATION Income Statement V $ $ $ $