Problem 4-4 (Part Level Submission) The following account balances were included in the trial balance of Skysong Corporation at June 30, 2017 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) $1,592,490 31,930 906,000 56,950 98,360 35,500 22,000 14,940 9,050 4,655 6,413 4,661 3,150 3,073 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-2014 (net of tax) Dividends declared on preferred stock Dividends declared on common stock $6,961 6,944 5,026 9,745 5,770 61,334 36,840 18,260 100,580 18,460 8,330 34,440 The Retained Earnings account had a balance of $325,990 at July 1, 2016. There are 76,170 shares of common stock outstanding. (al) Using the multiple-step form, prepare an income statement for the year ended June 30, 2017. (Round earnings per share to 2 decimal places, e.g. SKYSONG CORPORATION Income Statement For the Year Ended June 30, 2017 Sales Sales Discounts Less