Question 12 of 46 -11 Current Attempt in Progress Sheffield Corporation had net sales of $4,970,000 and interest revenue of $90,000 during 2017. Expenses for 2017 were cost of goods sold $2,940,000; selling expenses $416,000; administrative expenses $540,000; and interest expense $24,000. Sheffield's tax rate is 40%. The corporation had 520,000 shares of common stock authorized and 52,000 shares issued and outstanding during 2017. Prepare a single-step income statement for the year ended December 31, 2017. (Round earnings per share to 2 decimal places, e.g. 1.48.) SHEFFIELD CORPORATION Income Statement $ Question 12 of 46 - /1 E $ $ e Textbook and Media List of Accounts Save for Later Attempts: unlimited Submit