The accountant of Teal 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		$31,400
Interest expense		20,400
Market appreciation on land above cost		33,400
Salaries and wages expense (selling)		117,200
Supplies expense (selling)		20,000
Income tax		39,800
Salaries and wages expense (administrative)		138,300
Other administrative expenses		54,100
Cost of goods sold		498,400
Net sales		982,400
Depreciation on plant assets (70% selling, 30% administrative)		67,400
Cash dividends declared		18,400

There were 19,980 shares of common stock outstanding during the year.

Part 1

Prepare a multiple-step income statement. (Round earnings per share to 2 decimal places, e.g. 1.48.)

Part 2

Prepare a single-step income statement. (Round earnings per share to 2 decimal places, e.g. 1.48.)