The following balances were taken from the books of Martinez Corp. on December 31, 2017. Interest revenue Cash Sales revenue Accumulated depreciation-equipment Accumulated depreciation-buildings Notes receivable Selling expenses Accounts payable Bonds payable Accounts receivable Prepaid insurance Sales returns and allowances Allowance for doubtful accounts Sales discounts $87,050 52,050 1,381,050 151,050 21,050 151,050 8,050 46,050 101,050 201,050 141,050 622,050 Administrative and general expenses $41,050 29,050 156,050 195,050 171,050 101,050 98,050 33,050 61,050 101,050 151,050 501,050 22,050 Land Accrued liabilities Interest expense Notes payable Equipment Buildings Loss from earthquake damage Cost of goods sold Common stock Retained earnings Assume the total effective tax rate on all items is 34%. 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.) MARTINEZ CORP. Income Statement For the Year Ended December 31, 2017 ] 11:7 1711 TEPIFT (ss07) / wooui 79N)