The following balances were taken from the books of Vaughn Corp. on December 31, 2020. Interest revenue $87,700 Accumulated depreciation-equipment $41,700 Cash 52,700 Accumulated depreciation-buildings 29,700 Sales revenue 1,381,700 Notes receivable 156,700 Accounts receivable 151,700 Selling expenses 195,700 Prepaid insurance 21,700 Accounts payable 171,700 Sales returns and allowances 151,700 Bonds payable 101,700 Allowance for doubtful accounts 8,700 Administrative and general expenses 98,700 Sales discounts 46,700 Accrued liabilities 33,700 Land 101,700 Interest expense 61,700 Equipment 201,700 Notes payable 101,700 Buildings 141,700 Loss from earthquake damage 151,700 Cost of goods sold 622,700 Common stock 501,700 Retained earnings 22,700 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.) VAUGHN CORP. VAUGHN CORP. Income Statement $ $ Per share of common stock: $