Question 5 The following account balances were included in the trial balance of Vaughn 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 Intenet expense (sales) Depreciation expense (sales equipment) Maintenance and repairs expense (sales) Miscellaneous selling expenses Office supplies used Telephone and Internet expense (administration) $1,595,870 Depreciation expense (office furniture and equipment) 3,040Property tax expense 897,600 Bad debt expense (selling) 56,520 Maintenance and repairs expense (administration) 98,900 Office expense 35,200 Sales returns and allowances 23,290 Dividends received 14,990 Interest ep $7,119 7,850 4,614 8,347 6,480 58,075 34,910 18,950 107,240 17,738 9,020 39,470 9,160 4,914 6,715 4,689 3,656 2,966 Income tax expense Depreciation understatement due to error-2014 (net of tax) Dividends declared on preferred stock Dividencs declared on common stock The Retained Eamings account had a balance of $370.560 at July 1, 2016. There are 75,830 shares ol common stock outstanding. CALCULATOR STANDARD VTEw PRINTER Using the multiple-step form, prepare an income statement for the year ended June 30, 2017. (Round earnings per share to 2 declmal places, e.g. 1.48.) VAUGHN CORPORATION CALCULATOR STAME T RESOURCES oi #1 ncceunting,6e CALC CES SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT LINK TO TEXT LINK TO TEXT | Prepare a retained earnings statement for the year ended June 30, 2017, (List items that increase adjusted retained earnings VAUGHN CORPORATION Retained Earnings Statement SHow LIST OF ACCOUNTS Intermedlate Accoun RCES Using the single-step form, prepare an income statement for the year ended June 30, 2017. (Round carnings per share to 2 decimal places, a.g. 1.48) VAUGHN CORPORATION Income Statement SHOW LEST OF ACCOUNTS TO TEXT LINK TO LINK TO TEXT LINK