The following are selected ledger accounts of Ayayai Corporation at December 31, 2017 Cash Inventory Sales revenue Unearned sales revenue Purchases Sales discounts Purchase discounts Selling expenses Accounting and legal services Insurance expense (office) Advertising expense Delivery expense Depreciation expense (office equipment) Depreciation expense (sales equipment) $187,800 537,800 4,277,800 119,800 2,788,800 Salaries and wages expense (sales) Salaries and wages expense (office) Purchase returns Sales returns and allowances Freight-in 36,800 Accounts receivable 29,800 Sales commissions 71,800 35,800 26,800 56,800 95,800 50,800 38,800 $286,800 348,800 17,800 81,800 74,800 145,300 85,800 19,800 34,800 10,800 242,800 72,800 178,800 902,800 Telephone and Internet expense (sales) Utilities expense (office) Miscellaneous office expenses Rent revenue Casualty loss (before tax) Interest expense Common stock ($10 par) Ayayai's effective tax rate on all items is 34%. A physical inventory indicates that the ending inventory is $688,800 Prepare a condensed 2017 income statement for Ayayai Corporation. (Round earnings per share to 2 decimal places, e.g. 1.48.)