The following account balances were included in the trial balance of Oriole Corporation at June 30, 2020. Sales revenue 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) $1,579,860 31,690 897,100 56,690 98,950 31,900 23,150 15,110 9,080 5,069 6,440 5,045 3,368 3,097 Depreciation expense (office furniture and equipment) 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 des Dividends declared on common stock 56,762 6,043 4,503 8,281 5,980 63,694 39,910 16,440 98,290 17,004 9,210 38,360 The Retained Earnings account had a balance of $364,510 at July 1, 2019. There are 83,970 shares of common stock outstanding. (1) Your answer is partially correct. Try again. Using the multiple-step form, prepare an income statement for the year ended June 30, 2020. (Round earnings per share to 2 decimal places, e.g. 1.48.)