The financial records of Sheridan Inc. were destroyed by fire at the end of 2025 . Fortunately, the controller had kept certain statistical data related to the income statement as follows. 1. The beginning merchandise inventory was $106.720 and decreased 20% during the current year. 2. Sales discounts amount to $17,340. 3. 20,986 shares of common stock were outstanding for the entire year. 4. Interest expense was $22,800. 5. The income tax rate is 30%. 6. Cost of goods sold amounts to $500.000. 7. Administrative expenses are 20% of cost of goods sold but only 8% of gross sales: 8. Four-fifths of the operating expenses relate to sales activities. From the foregoing information prepare an income statement for the year 2025 in single-step form. (Round earnings per share to 2 decimal places, eg. 1.48.) Selling Expenses $ Cost of Goods Sold ieterest Expense Administrative Expenses Total Expenses Income before income Tax income Txa Expense Net income (itoss! Earningsirghare