The following balances were taken from the books of Whispering Corp. on December 31, 2020. Interest revenue $87.500 Accumulated depreciation-equipment $41,500 Cash 52.500 Accumulated depreciation-buildings 29.500 Sales revenue Notes receivable 156,500 Accounts receivable Selling expenses 195,500 Prepaid insurance Accounts payable 171,500 1,381,500 151.500 21,500 151,500 8,500 46,500 Sales returns and allowances Bonds payable 101,500 Allowance for doubtful accounts Administrative and general expenses 98,500 Sales discounts Accrued liabilities 33,500 Land Interest expense 61.500 101,500 201,500 Equipment Notes payable 101,500 Buildings Loss from earthquake damage 141,500 622.500 151,500 501,500 Cost of goods sold Common stock Retained earnings 22.500 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.) WHISPERING CORP. Income Statement