The accountant of Bonita 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. Rent revenue $30,800 Interest expense 19,800 Market appreciation on land above cost 32,800 Salaries and wages expense (selling) 116,600 Supplies expense (selling) 19,400 Income tax 24,900 Salaries and wages expense (administrative) 137,700 Other administrative expenses 53,500 Cost of goods sold 497,800 Net sales 981,800 Depreciation on plant assets (70% selling, 30% administrative) 66,800 Cash dividends declared 17,800 There were 20,000 shares of common stock outstanding during the year. Prepare a multiple-step income statement. (Round earnings per share to 2 decimal places, e.g. 1.48.)