The following balances were taken from the books of Whispering Winds Limited on December 31, 2017: Interest income Cash Sales revenue Accounts receivable Prepaid insurance Sales returns and allowances Allowance for doubtful accounts Sales discounts Land Equipment Building Cost of goods sold $87,000 Accumulated depreciation equipment $42,000 51,000 Accumulated depreciation-buildings 27,000 1,380,000 Notes receivable 136,000 130,000 Selling expenses 195,000 21,000 Accounts payable 164,000 130,000 Bonds payable 110,000 7,000 Administrative expenses 96,000 48,000 Accrued liabilities 30,000 110,000 Interest expense 59,000 220,000 Notes payable 110,000 160,000 Loss-other (due to storm damage) 130,000 621,000 Depreciation expense 59,000 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. (Round per share answer to 2 decimal places, e.g. 52.74.) Whispering Winds Limited Income Statement { {