The accountant of Oriole Shoe Co. has compiled the following information from the company's records as a basis for an income statement for the year ended December 31,2025. Rent revenue Interest expense Market appreciation on land above cost Salaries and wages expense (selling) Supplies (selling) Income tax $31,900 20,900 Salaries and wages expense (administrative) 33,900 Other administrative expenses 117,700 Cost of goods sold 20,500 Net sales 26,000 Depreciation on plant assets ( 70% selling, 30% administrative) 67,900 Cash dividends declared 18,900 There were 20,000 shares of common stock outstanding during the year. Income Stakement For the Year Ended December 31, 2025 Net Sales Cost of Goods Sold Gross Profit Operating Expenses Selling Expenses Salaries and Wages Expense $ 117,700 i Depreciation Expense 47.530i Supplies Expense \begin{tabular}{|ll|l|} \hline & 20,500 & i \\ \hline \end{tabular} Total Selling Expenses $ Administrative Expenses Salaries and Wages Expense: \begin{tabular}{|l|l|} \hline 138,800 & i \\ \hline \end{tabular} Other Administrative Expenses: \begin{tabular}{|l|l|} \hline 54,600 & i \\ \hline \end{tabular} Depreciation Expense Total Administrative Expenses Income from Operations Other-Revenues and Gains Rent Revenue Other Expenses and Losses Interest Expense Income before income Tax Income Tax Net income / (Loss) Earnines per Share