ssignment FULL S CES tudy. Cash $185,000 Salaries and wages expense (sales) $284,000 Inventory (beginning) 535,000 Salaries and wages expense (office) 346,000 Sales revenue 4,175,000 Purchase returns 15,000 Unearned sales revenue 117,000 Sales returns and allowance 79,000 Purchases 2,786,000 Freight-in 72,000 Sales discounts 34,000 Accounts receivable 142,500 Purchase discounts 27,000 Sales commissions 83,000 Selling expenses 69,000 Telephone and Internet expense (sales) 17,000 Accounting and legal services 33,000 Utilities expense (office) 32,000 Insurance expense (office) 24,000 Miscellaneous office expenses 8,000 54,000 Advertising expense 240,000 Rent revenue 93,000 Delivery expense Loss on sale of division 60,000 Interest expense 48,000 176,000 Depreciation expense (office equipment) 36,000 Share capital-ordinary ($10 par) 900,000 Depreciation expense (sales equipment) Woods's effective tax rate on all items is 30%. A physical inventory indicates that the ending inventory is $686,000. Prepare a 2015 income statement for Woods Corporation. (Round earnings per share to 2 decimal places, e.g. 5.25. WOODS CORPORATION Income Statement For the Year Ended December 31, 2015 Ai