The accountant of Waterway 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 $31,800 Interest expense 20,800 Market appreciation on land above cost 33,800 Salaries and wages expense (selling) 117,600 Supplies expense (selling) 20,400 Income tax 25,900 Salaries and wages expense (administrative) 138,700 Other administrative expenses 54,500 Cost of goods sold 498,800 Net sales 982,800 Depreciation on plant assets (70% selling, 30% administrative) 67,800 Cash dividends declared 18,800 There were 20,000 shares of common stock outstanding during the year. Prepare a single-step income statement. (Round earnings per share to 2 decimal places, e.g. 1.48.) WATERWAY SHOE CO. Income Statement $ A G > >