The following balances were taken from the books of Bramble Corp.on December 31, 2020. Interest revenue $ 87,650 $ 41,650 Cash 52,650 29,650 1,381,650 156,650 151,650 195,650 21.650 171,650 151,650 101,650 Sales revenue Accounts receivable Prepaid insurance Sales returns and allowances Allowance for doubtful accounts Sales discounts Land Equipment Buildings Cost of goods sold 8,650 Accumulated depreciation-equipment Accumulated depreciation-buildings Notes receivable Selling expenses Accounts payable Bonds payable Administrative and general expenses Accrued liabilities Interest expense Notes payable Loss from earthquake damage Common stock Retained earnings 98,650 46,650 33,650 101.650 61.650 201,650 101,650 141,650 151,650 622,650 501,650 22,650 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, c.8. 1.48.) BRAMBLE CORP. Income Statement For the Year Ended December 31, 2020 Sales Sales Returns and Allowances 151650 Less V Sales Discounts $ 46650 Net Sales Gross Profit/(Loss) Cost of Goods Sold 622650 Operating Expenses Administrative and General Spenses 98650 Selling Expenses 195650 Total Expres Other Expenses and Loss Interest Expense 61650 SIS Cost of Goods Sold 622650 Operating Expenses Administrative and General Expenses 98650 Selling Expenses 195650 Total Expenses Other Expenses and Losses V Interest Expense 61650 Other Expenses and Loss Loss from Earthquake Damage 151650 Income Before Income Tax Per share of common stock Earnings Per Common Share V