Problem 4-04 The following account balances were included in the trial balance of Sheridan Corporation at June 30, 2020. $7,879 7,245 Sales revenue Sales discounts Cost of goods sold Salaries and wages expense (sales) Sales commissions Travel expense (salespersons) Delivery expense Entertainment expense Telephone and Internet expense (sales) Depreciation expense (sales equipment) Maintenance and repairs expense (sales) Miscellaneous selling expenses Office supplies used Telephone and Internet expense (administration) $1,595,060 31,950 902,000 57,640 99,290 35,300 21,900 15,100 9,220 5,345 6,774 4,879 Depreciation expense (office furniture and equipment) Property tax expense Bad debt expense (selling) Maintenance and repairs expense (administration) Office expense Sales returns and allowances Dividends received Interest expense Income tax expense Depreciation understatement due to error-2020 (net of tax) Dividends declared on preferred stock Dividends declared on common stock 5,241 8,605 5,490 57,733 41,600 17,830 92,040 17,126 8,150 40,330 3,250 2,735 The Retained Earnings account had a balance of $352,440 at July 1, 2019. There are 73,980 shares of common stock outstanding. Using the multiple-step form, prepare an income statement for the year ended June 30, 2020. (Round earnings per share to 2 decimal places, e.g. 1.48.)