Presented below is information related to Vaughn Corp. for the year 2020. Net sales $1,404,000 Write-off of inventory due to obsolescence $86,400 Cost of goods sold 842,400 Depreciation expense omitted by accident in 2019 59,400 Selling expenses 70,200 Casualty loss 54,000 Administrative expenses 51,840 Cash dividends declared 48,600 Dividend revenue 21,600 Retained earnings at December 31, 2019 1,058,400 Interest revenue 7,560 Effective tax rate of 20% on all items (a) Prepare a multiple-step income statement for 2020. Assume that 65,664 shares of common stock are outstanding for the entire year. (Round earnings per share to 2 decimal places, e.g. 1.49.) VAUGHN CORP