The following are selected ledger accounts of Whispering Corporation at December 31, 2020 Cash $203,500 Salaries and wages expense (sales) $312,400 Inventory 588,500 Salaries and wages expense (office) 380,600 Sales revenue 4,702,500 Purchase returns 16,500 Unearned sales revenue 128,700 Sales returns and allowances 86,900 Purchases 3,064,600 Freight in 79,200 Sales discounts 37,400 Accounts receivable 156,750 Purchase discounts 29,700 Sales commissions 91,300 Selling expenses 75,900 Telephone and Internet expense (sales) 18,700 Accounting and legal services 36,300 Utilities expense (office) 35,200 Insurance expense (office) 26,400 Miscellaneous office expenses 8,800 Advertising expense 59,400 Rent revenue 264,000 Delivery expense 102,300 Casualty loss (before tax) 77,000 Depreciation expense (office equipment) 52,800 Interest expense 193,600 Depreciation expense (sales equipment) 39,600 Common stock ($10 par) 884,800 Whisperings 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 Whispering Corporation (Round earnings per share to 2 decimal places, e g 1 48 )

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The following are selected ledger accounts of Whispering Corporation at December 31, 2020. Cash $203,500 Salaries and wages expense (sales) $312,400 Inventory 588,500 Salaries and

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

Cash	$203,500	Salaries and wages expense (sales)	$312,400
Inventory	588,500	Salaries and wages expense (office)	380,600
Sales revenue	4,702,500	Purchase returns	16,500
Unearned sales revenue	128,700	Sales returns and allowances	86,900
Purchases	3,064,600	Freight-in	79,200
Sales discounts	37,400	Accounts receivable	156,750
Purchase discounts	29,700	Sales commissions	91,300
Selling expenses	75,900	Telephone and Internet expense (sales)	18,700
Accounting and legal services	36,300	Utilities expense (office)	35,200
Insurance expense (office)	26,400	Miscellaneous office expenses	8,800
Advertising expense	59,400	Rent revenue	264,000
Delivery expense	102,300	Casualty loss (before tax)	77,000
Depreciation expense (office equipment)	52,800	Interest expense	193,600
Depreciation expense (sales equipment)	39,600	Common stock ($10 par)	884,800

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