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

Cash		$ 251,600		Salaries and wages expense (sales)		$ 386,240
Inventory		727,600		Salaries and wages expense (office)		470,560
Sales revenue		5,814,000		Purchase returns		20,400
Unearned sales revenue		159,120		Sales returns and allowances		107,440
Purchases		3,788,960		Freight-in		97,920
Sales discounts		46,240		Accounts receivable		193,800
Purchase discounts		36,720		Sales commissions		112,880
Selling expenses		93,840		Telephone and Internet expense (sales)		23,120
Accounting and legal services		44,880		Utilities expense (office)		43,520
Insurance expense (office)		32,640		Miscellaneous office expenses		10,880
Advertising expense		73,440		Rent revenue		326,400
Delivery expense		126,480		Casualty loss (before tax)		95,200
Depreciation expense (office equipment)		65,280		Interest expense		239,360
Depreciation expense (sales equipment)		48,960		Common stock ($ 10 par)		496,160

Splishs 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 Splish Corporation. (Round earnings per share to 2 decimal places, e.g. 1.48.)