The following are selected ledger accounts of Spock Corporation at December 31, 2014.

Cash		$188,260		Salaries and wages expense (sales)		$287,260
Inventory		538,260		Salaries and wages expense (office)		349,260
Sales revenue		4,278,260		Purchase returns		18,260
Unearned sales revenue		120,260		Sales returns and allowances		82,260
Purchases		2,789,260		Freight-in		75,260
Sales discounts		37,260		Accounts receivable		145,760
Purchase discounts		30,260		Sales commissions		86,260
Selling expenses		72,260		Telephone and Internet expense (sales)		20,260
Accounting and legal services		36,260		Utilities expense (office)		35,260
Insurance expense (office)		27,260		Miscellaneous office expenses		11,260
Advertising expense		57,260		Rent revenue		243,260
Delivery expense		96,260		Extraordinary loss (before tax)		73,260
Depreciation expense (office equipment)		51,260		Interest expense		179,260
Depreciation expense (sales equipment)		39,260		Common stock ($10 par)		903,260

Spocks effective tax rate on all items is 30%. A physical inventory indicates that the ending inventory is $689,260. Prepare a condensed 2014 income statement for Spock Corporation. (Round earnings per share to 2 decimal places, e.g. 1.48.)

SPOCK CORPORATION Income Statement For the Year Ended December 31, 2014