The following are selected ledger accounts of Marigold Corporation at December 31, 2020.

Cash		$177,600		Salaries and wages expense (sales)		$272,640
Inventory		513,600		Salaries and wages expense (office)		332,160
Sales revenue		4,104,000		Purchase returns		14,400
Unearned sales revenue		112,320		Sales returns and allowances		75,840
Purchases		2,674,560		Freight-in		69,120
Sales discounts		32,640		Accounts receivable		136,800
Purchase discounts		25,920		Sales commissions		79,680
Selling expenses		66,240		Telephone and Internet expense (sales)		16,320
Accounting and legal services		31,680		Utilities expense (office)		30,720
Insurance expense (office)		23,040		Miscellaneous office expenses		7,680
Advertising expense		51,840		Rent revenue		230,400
Delivery expense		89,280		Casualty loss (before tax)		67,200
Depreciation expense (office equipment)		46,080		Interest expense		168,960
Depreciation expense (sales equipment)		34,560		Common stock ($10 par)		753,760

Marigolds effective tax rate on all items is 20%. A physical inventory indicates that the ending inventory is $686,000. Prepare a condensed 2020 income statement for Marigold Corporation. (Round earnings per share to 2 decimal places, e.g. 1.48.)The following are selected ledger accounts of Marigold Corporation at December 31, 2020.

S Question 3 of 3