The accountant of Sheridan Shoe Co. has compiled the following information from the companys records as a basis for an income statement for the year ended December 31, 2017.

Rent revenue		$30,000
Interest expense		19,000
Market appreciation on land above cost		32,000
Salaries and wages expense (selling)		115,800
Supplies expense (selling)		18,600
Income tax		38,400
Salaries and wages expense (administrative)		136,900
Other administrative expenses		52,700
Cost of goods sold		497,000
Net sales		981,000
Depreciation on plant assets (70% selling, 30% administrative)		66,000
Cash dividends declared		17,000

There were 20,280 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.)