The following balances were extracted from the trial balance of The Swifty Corporation, a private corporation that follows ASPE Swifty has a June 30 year end. All the adjusting entries, except for income tax expense, have been recorded. Other relevant information: The Swifty Corporation Adjusted Trial Balance (Partial) June 30, 2021 Debit Credit $25,430 Advertising expense Cash dividends 84,000 Common shares $124.000 Cost of goods sold 168,010 Adjusted Trial Balance (Partial) June 30, 2021 Debit Credit Advertising expense $25,430 Cash dividends 84,000 Common shares $124,000 Cost of goods sold 168,010 Depreciation expense 15,250 Dividends payable 29.900 Income tax expense 17,156 Income tax payable 4,004 Interest expense 1.850 Preferred shares 65,000 Rent expense 25.860 Interest expense 1,850 Preferred shares 65,000 Rent expense 25,860 Retained earnings (beginning) 83,520 Salaries expense 171,140 Sales Revenue 502,320 Supplies expense 13,060 1. There are no dividend arrears at July 1, 2020. 2. The preferred shares are $1.00 cumulative, unlimited number authorized, 10,833 issued. 3. The common shares have an unlimited number authorized, 41.333 issued. 4. Swifty's income tax rate is 30% Prepare the entry to adjust income tax expense. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit Jun 30, 2021 Prepare a multiple step income statement for the year ended June 30, 2021. THE SWIFTY CORPORATION Income Statement Year Ended June 30, 2021 3