Presented below is information related to Sandhill Corp., for the year 2020. Net sales Cost of goods sold $3,315,000 2,040,000 Selling expenses Administrative expenses 161,500 119,000 Dividend revenue Interest revenue Interest expense 51,000 34,000 76,500 Write-off of goodwill due to impairment 127,500 Depreciation expense omitted in 2018 178,500 Dividends declared 204,000 Effect on prior years of change in accounting principle (credit) 374,000 Loss from operations of discontinued component of business 408,000 Gain from disposal of component of business 510,000 Federal tax rate of 30% on all items Prepare a multiple-step income statement for 2020. Assume the 200,000 shares of common stock were outstanding during 2020. (Round earnings per share to 2 decimal places, e.g. 5.25.) et Sales ost of Goods Sold ross Profit perating Expenses Selling Expenses Administrative Expenses perating Expenses come from Operations Dividend Revenue Interest Revenue > come from Continuing Operations come Tax Expense share of common stock: Iscontinued Operations et Income/(Loss) For the Year Ended December 31, 2020 19 $ $ 161500 119000 51000 34000 $ $ $ 3,315, -2,040 1275 (280)