Presented below are selected ledger accounts of Woods Corporation at December 31, 2015. Cash $185,000 Salaries and wages expense (sales) $284,000 Inventory (beginning) 535,000 Salaries and wages expense (office) 346,000 Sales revenue 4,175,000 Purchase returns 15,000 Unearned sales revenue 117,000 Sales returns and allowance 79,000 Purchases 2,786,000 Freight-in 72,000 Sales discounts 34,000 Accounts receivable 142,500 Purchase discounts 27,000 Sales commissions 83,000 Selling expenses 69,000 Telephone and Internet expense (sales) 17,000 Accounting and legal services 33,000 Utilities expense (office) 32,000 Insurance expense (office) 24,000 Miscellaneous office expenses 8,000 Advertising expense 54,000 Rent revenue 240,000 Delivery expense 93,000 Loss on sale of division 60,000 Depreciation expense (office equipment) 48,000 Interest expense 176,000 Depreciation expense (sales equipment) 36,000 Share capital-ordinary ($10 par) 900,000 Woods's effective tax rate on all items is 30%. A physical inventory indicates that the ending inventory is $686,000. Prepare a 2015 income statement for Woods Corporation. (Round earnings per share to 2 decimal places, e.g. 5.25.) WOODS CORPORATION Income Statement Ai e DLL FULL SCREEN For the Year Ended December 31, 2015 Net Sales $ 4175000 Sales Discounts 34000 Sales Returns and Alloy 79000 Net Sales 4062000 Cost of Goods Sold 2635000 1427000 2748000 Expenses Sales Commissions 83000 93000 Delivery Expense Interest Expense Administrative Expenses 176000 54000 Discontinued Operations Ai e DOLL Enment > Open Assignment Sales Commissions 83000 GNMENT RESOURCES 2 HW xercise 4-11 xercise 4-12 Delivery Expense 93000 Interest Expense 176000 Administrative Expenses 54000 rew Score iew Results by Study ective Discontinued Operations Loss on Discontinued Oper $ 240000 Less Applicable Income Tax Earnings per share Net Income/(Loss) Dividend Revenue O Ai