Presented below is information related to Sheridan Corp., for the year 2020.

Net sales		$ 2,730,000
Cost of goods sold		1,680,000
Selling expenses		133,000
Administrative expenses		98,000
Dividend revenue		42,000
Interest revenue		28,000
Interest expense		63,000
Write-off of goodwill due to impairment		105,000
Depreciation expense omitted in 2018		147,000
Dividends declared		168,000
Effect on prior years of change in accounting principle (credit)		308,000
Loss from operations of discontinued component of business		336,000
Gain from disposal of component of business		420,000
Federal tax rate of 30% on all items

Prepare a multiple-step income statement for 2020. Assume the 250,000 shares of common stock were outstanding during 2020. (Round earnings per share to 2 decimal places, e.g. 5.25.)

Sheridan Corp. INCOME STATEMENT