The following balances were taken from the books of Martinez Limited on December 31, 2020:

Interest income		$ 84,000		Accumulated depreciationequipment		$ 44,000
Cash		54,000		Accumulated depreciationbuildings		30,000
Sales revenue		1,370,000		Notes receivable		166,000
Accounts receivable		160,000		Selling expenses		193,000
Prepaid insurance		22,000		Accounts payable		167,000
Sales returns and allowances		156,000		Bonds payable		111,000
Allowance for doubtful accounts		6,000		Administrative expenses		92,000
Sales discounts		45,000		Unearned revenue		26,000
Land		110,000		Interest expense		40,000
Equipment		220,000		Notes payable		110,000
Building		160,000		Loss from storm damage		162,000
Cost of goods sold		626,000		Depreciation expense		40,000

Assume the total effective tax rate on all items is 25%. Prepare a multiple-step income statement showing expenses by function. Assume that 100,000 common shares were outstanding during the year. Include calculation of EPS. Martinez Limited follows ASPE but decides to disclose EPS on its income statement.(Round per share answer to 2 decimal places, e.g. 52.74.)

Martinez Limited Income Statement choose the accounting period For the Month Ended December 31, 2020December 31, 2020For the Year Ended December 31, 2020
select an opening name for section one Earnings Per ShareIncome from OperationsRevenueIncome before Income TaxNet Income / (Loss)Net Sales RevenueOther Expenses and LossesOperating ExpensesOther Revenues and GainsGross Profit / (Loss)
select an income statement item Sales Returns and AllowancesDepreciation ExpenseInterest ExpenseSelling ExpensesSales DiscountsCost of Goods SoldAdministrative ExpensesLoss from Storm DamageSales RevenueInterest RevenueIncome Tax Expense				$ enter a dollar amount
select between addition and deduction AddLess:
select an income statement item Depreciation ExpenseInterest ExpenseIncome Tax ExpenseSales RevenueCost of Goods SoldAdministrative ExpensesSelling ExpensesLoss from Storm DamageSales Returns and AllowancesInterest RevenueSales Discounts		$ enter a dollar amount
select an income statement item Sales DiscountsCost of Goods SoldLoss from Storm DamageInterest RevenueDepreciation ExpenseSales Returns and AllowancesInterest ExpenseIncome Tax ExpenseAdministrative ExpensesSelling ExpensesSales Revenue		enter a dollar amount
				enter a subtotal of the two previous amounts
select a closing name for section one Earnings Per ShareNet Sales RevenueOther Revenues and GainsOperating ExpensesRevenueNet Income / (Loss)Income from OperationsGross Profit / (Loss)Income before Income TaxOther Expenses and Losses				enter a total amount for section one
select an income statement item Selling ExpensesCost of Goods SoldAdministrative ExpensesInterest RevenueIncome Tax ExpenseSales RevenueSales Returns and AllowancesLoss from Storm DamageDepreciation ExpenseInterest ExpenseSales Discounts				enter a dollar amount
select a summarizing line for the first part Other Revenues and GainsRevenueNet Income / (Loss)Operating ExpensesOther Expenses and LossesIncome from OperationsEarnings Per ShareGross Profit / (Loss)Income before Income TaxNet Sales Revenue				enter a total amount for the first part
select an opening name for section two Other Revenues and GainsIncome from OperationsRevenueNet Sales RevenueGross Profit / (Loss)Income before Income TaxOther Expenses and LossesOperating ExpensesEarnings Per ShareNet Income / (Loss)
select an income statement item Administrative ExpensesSales RevenueSelling ExpensesInterest RevenueCost of Goods SoldSales Returns and AllowancesSales DiscountsIncome Tax ExpenseDepreciation ExpenseInterest ExpenseLoss from Storm Damage		enter a dollar amount
select an income statement item Depreciation ExpenseLoss from Storm DamageInterest RevenueSelling ExpensesInterest ExpenseSales DiscountsSales RevenueAdministrative ExpensesCost of Goods SoldSales Returns and AllowancesIncome Tax Expense		enter a dollar amount
select an income statement item Selling ExpensesSales RevenueAdministrative ExpensesInterest RevenueIncome Tax ExpenseLoss from Storm DamageSales DiscountsSales Returns and AllowancesDepreciation ExpenseCost of Goods SoldInterest Expense		enter a dollar amount
				enter a subtotal of the three previous amounts
select a summarizing line for the second part Income from OperationsNet Sales RevenueOther Expenses and LossesOther Revenues and GainsIncome before Income TaxNet Income / (Loss)Earnings Per ShareRevenueGross Profit / (Loss)Operating Expenses				enter a total amount for the second part
select an opening name for section three Earnings Per ShareOther Expenses and LossesOther Revenues and GainsNet Sales RevenueIncome from OperationsRevenueOperating ExpensesGross Profit / (Loss)Income before Income TaxNet Income / (Loss)
select an income statement item Income Tax ExpenseLoss from Storm DamageCost of Goods SoldSelling ExpensesSales Returns and AllowancesSales DiscountsDepreciation ExpenseInterest ExpenseSales RevenueAdministrative ExpensesInterest Revenue				enter a dollar amount
				enter a subtotal of the two previous amounts
select an opening name for section four Other Revenues and GainsRevenueGross Profit / (Loss)Other Expenses and LossesIncome from OperationsNet Sales RevenueIncome before Income TaxNet Income / (Loss)Operating ExpensesEarnings Per Share
select an income statement item Administrative ExpensesLoss from Storm DamageInterest RevenueInterest ExpenseSales RevenueSales DiscountsSelling ExpensesIncome Tax ExpenseCost of Goods SoldDepreciation ExpenseSales Returns and Allowances		enter a dollar amount
select an income statement item Selling ExpensesDepreciation ExpenseIncome Tax ExpenseLoss from Storm DamageCost of Goods SoldInterest RevenueSales Returns and AllowancesSales RevenueInterest ExpenseAdministrative ExpensesSales Discounts		enter a dollar amount
				enter a subtotal of the two previous amounts
select a summarizing line for the third part Earnings Per ShareIncome before Income TaxOther Revenues and GainsNet Income / (Loss)RevenueOperating ExpensesNet Sales RevenueOther Expenses and LossesIncome from OperationsGross Profit / (Loss)				enter a total amount for all three parts
select an income statement item Depreciation ExpenseSales DiscountsIncome Tax ExpenseSales RevenueAdministrative ExpensesSelling ExpensesCost of Goods SoldLoss from Storm DamageInterest RevenueSales Returns and AllowancesInterest Expense				enter a dollar amount
select a closing name for this statement Operating ExpensesEarnings Per ShareOther Expenses and LossesIncome from OperationsIncome before Income TaxRevenueNet Sales RevenueGross Profit / (Loss)Net Income / (Loss)Other Revenues and Gains				$ enter a total net income or loss amount
select an income statement item Earnings Per ShareOperating ExpensesNet Sales RevenueNet Income / (Loss)Income before Income TaxIncome from OperationsOther Revenues and GainsRevenueOther Expenses and LossesGross Profit / (Loss)				$ enter a dollar amount