The following are selected ledger accounts of Concord Corporation at December 31, 2017: Cash Entertainment expense Inventory (as of Jan. 1, 2017) Sales revenue Unearned revenue $190,000 538,000 4,271,000 113,000 2,711,000 32,000 25,000 285,000 342,000 $70,600 33,600 24,300 51,600 93,800 51,100 Purchases Sales discounts Office expense Insurance expense Advertising expense Freight-out Depreciation of office equipment Depreciation of sales equipment Telephone and Internet expense (sales) Utilities expense (administrative) Miscellaneous expense Rental revenue Loss on disposal of equipment Interest expense Common shares 35,000 17,800 Purchase discounts Salaries and wages (sales) Salaries and wages (administrative) Purchase returns and allowances Sales returns and allowances Freight-in Accounts receivable 31,000 6,300 240,000 15,000 76,000 69,000 141,300 81,500 65,000 182,000 860,000 Sales commission expense Holland's effective tax rate on all items is 30%. A physical inventory indicates that the ending inventory is $686,000. The number of common shares outstanding is 86,000. Prepare a condensed multi-step 2017 income statement for Concord Corporation, showing expenses by function. Include calculation of EPS. (Round per share answer to 2 decimal places, e.g. 52.74.) Concord Corporation Income Statement $ $