Question 3: The accountant of Whitney Houston Shoe Co. has compiled the following information from the company's records as a basis for an income statement for the year ended December 31, 2020. Rental Revenue Interest on Notes Payable Market Appreciation on Land above Cost Wages and Salaries - Sales Materials and Supplies - Sales $29,000 18,000 31,000 114,800 17,600 Income Tax Wages and Salaries - Administrative Other Administrative Expenses Cost of Goods Sold Net Sales Depreciation on Plant Assets (70% selling, 30% administrative) Dividends Declared 2 37,400 135,900 51,700 496,000 980,000 65,000 16,000