The following balances were taken from the books of Blue Corp. on December 31, 2020. Interest revenue Cash $88,050 53,050 Accumulated depreciation-equipment $42,050 Sales revenue 1,382,050 Accumulated depreciation-buildings Notes receivable 30,050 157,050 Accounts receivable 152,050 Selling expenses 196,050 Prepaid insurance 22,050 Accounts payable 172,050 Sales returns and allowances 152,050 Bonds payable 102,050 Allowance for doubtful accounts 9,050 Administrative and general expenses 99,050 Sales discounts 47,050 Accrued liabilities 34,050 Land 102,050 Interest expense 62,050 Equipment 202,050 Notes payable 102,050 Buildings Cost of goods sold 142,050 623,050 Loss from earthquake damage 152,050 Common stock 502,050 Retained earnings 23,050 Assume the total effective tax rate on all items is 20%. Prepare a multiple-step income statement; 100,000 shares of common stock were outstanding during the year. (Round earnings per share to 2 decimal places, e.g. 1.48.) Sales Sales Revenue Less Sales Returns and Allowances Sales Discounts Net Sales Cost of Goods Sold Gross Profit/(Loss) Operating Expenses Selling Expenses Administrative Expenses Other Expenses and Losses Interest Expense Income Before Income Tax Income Tax Expense Loss from Earthquake Damage BLUE CORP. Income Statement For the Year Ended December 31, 2020 $ $ 69 Net Income/(Loss) Per share of common stock: Net Income/(Loss) 40,560 0.81 1,382,050