The following is the trial balance of Sheffield Corporation at December 31, 2020.

SHEFFIELD CORPORATION TRIAL BALANCE DECEMBER 31, 2020
		Debits			Credits
Purchase Discounts					$ 24,000
Cash		$ 455,280
Accounts Receivable		252,000
Rent Revenue					43,200
Retained Earnings					384,000
Salaries and Wages Payable					43,200
Sales Revenue					2,640,000
Notes Receivable		264,000
Accounts Payable					117,600
Accumulated DepreciationEquipment					67,200
Sales Discounts		34,800
Sales Returns and Allowances		42,000
Notes Payable					168,000
Selling Expenses		556,800
Administrative Expenses		237,600
Common Stock					720,000
Income Tax Expense		129,360
Cash Dividends		108,000
Allowance for Doubtful Accounts					12,000
Supplies		33,600
Freight-in		48,000
Land		168,000
Equipment		336,000
Bonds Payable					240,000
Gain on Sale of Land					72,000
Accumulated DepreciationBuildings					47,040
Inventory		213,600
Buildings		235,200
Purchases		1,464,000
Totals		$ 4,578,240			$ 4,578,240

A physical count of inventory on December 31 resulted in an inventory amount of $ 153,600; thus, cost of goods sold for 2020 is $ 1,548,000.

Prepare a single-step income statement. 72,000 shares of common stock were outstanding the entire year. (Round earnings per share to 2 decimal places, e.g. 1.48.)

SHEFFIELD CORPORATION Income Statement December 31, 2020For the Year Ended December 31, 2020For the Quarter Ended December 31, 2020
DividendsEarnings Per ShareIncome Before Income TaxNet Income / (Loss)Net SalesRetained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues
		$
DividendsEarnings Per ShareExpensesIncome Before Income TaxNet Income / (Loss)Net SalesRetained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues				$
DividendsEarnings Per ShareExpensesIncome Before Income TaxNet Income / (Loss)Net SalesRetained Earnings, January 1Retained Earnings, December 31Total ExpensesTotal Revenues
DividendsEarnings Per ShareExpensesIncome Before Income TaxNet Income / (Loss)Net SalesRetained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues
DividendsEarnings Per ShareExpensesIncome Before Income TaxNet Income / (Loss)Net SalesRetained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues
DividendsEarnings Per ShareExpensesIncome Before Income TaxNet Income / (Loss)Net SalesRetained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues				$
DividendsEarnings Per ShareExpensesIncome Before Income TaxNet Income / (Loss)Net SalesRetained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues				$