The following account balances were included in the trial balance of Oriole Corporation at June 30, 2020. Sales revenue 1,579,860 Depreciation expense (office furniture and equipment) 31,690 897.100 56,690 98,950 31.900 23,150 Sales discounts Cost of goods sold Salaries and wages expense (sales) Sales commissions Travel expense (salespersons) Delivery expense Entertainment expense Telephone and Internet expense (sales) Depreciation expense (sales equipment) Maintenance and repairs expense (sales) Miscellaneous selling expenses Office supplies used Telephone and Internet expense (administration) Property tax expense Bad debt expense (selling) Maintenance and repairs expense (administration) Office expense Sales returns and allowances Dividends received Interest expense Income tax expense Depreciation understatement due to error-2017 (net of tax) Dividends declared on preferred stock Dividends declared on common stock 15.110 9,080 5,069 6.440 5,045 3,368 3,097 Question 3 of 7 - 14 The Retained Earnings account had a balance of $ 364,510 at July 1, 2019. There are 83,970 shares of common stock outstanding. (a 1) Using the multiple-step form, prepare an income statement for the year ended June 30, 2020. (Round earnings per share to 2 decimal places, eg. 1.48.) ORIOLE CORPORATION Income Statement For the Year Ended June 30.2020 Sales Sales Revenue 1,579,860 Less : Sales Discounts $ (31.690) Sales Returns and Allowances (63.694) fo 90F AQI 61 Question 3 of 7 > -/4 Sales Returns and Allowances (63,694) Total Administrative Expenses $ A 90F AQI 61 C D] Question 3 of 7 > -/4 E 90'F AQI 61 A RE S A 90F AQI 61 E DE lic Question 3 of 7 $ $ e Textbook and Media List of Accounts Attempts: 0 of 5 used Save for Later (a2) (b1) Prepare a retained earnings statement for the year ended June 30, 2020. (List items that increase adjusted retained earnings first.) ORIOLE CORPORATION Retained Earnings Statement $ 90F AQI 61 e Textbook and Media List of Accounts Attempts: 0 of 5 used Submit Answer Save for Later (61) A 90F AQI 61 0 Et End PgUp PrtScn Home re 99 140 Sales revenue $ 1,579.860 Depreciation expense (office furniture and equipment) 31,690 897.100 Sales discounts Cost of goods sold Salaries and wages expense (sales) Sales commissions Travel expense (salespersons) Property tax expense Bad debt expense (selling) Maintenance and repairs expense (administration) 56,690 98,950 Office expense 31.900 Sales returns and allowances Dividends received Delivery expense 23,150 Entertainment expense 15.110 Interest expense Telephone and Internet expense (sales) 9.080 Income tax expense 5,069 6,440 Depreciation expense (sales equipment) Maintenance and repairs expense (sales) Miscellaneous selling expenses Office supplies used Telephone and Internet expense (administration) Depreciation understatement due to error-2017 (net of tax) Dividends declared on preferred stock Dividends declared on common stock 5.045 3,368 3,097 89F AQI 61 E k Presen Home FS End 11 F3 PgUp 190 Pgon F4 F5 F6 FS The following account balances were included in the trial balance of Oriole Corporation at June 30, 2020 $ 1,579.860 Depreciation expense office furniture and equipment 6,762 counts 31.690 Property tax expense 6,843 ods sold 897/100 4,503 and wages expense (sales) 56,690 8,281 nimissions 98,950 Bad debt expense (selling) Maintenance and repairs expense (administration) Office expense Sales returns and allowances Dividends received 5.980 pense salespersons) 31.900 63.694 pense 23.150 39.910 ament expense 15.110 Interest expense 16.440 se and internet expense (sales) 9.080 Income tax expense 98.290 stion expense sales equipment) 5.069 17,004 ance and repairs expense (sales) 6.440 Depreciation understatement due to error-2017 (net of tax) Dividends declared on preferred stock Dividends declared on common stock 9.210 neous selling experises 5,045 38,360 pplies used 3:368 e and internet expense administration) 3,097 BI 87F Clear we M of PrtScn Home End Pgup Pgon