Current Attempt in Progress Presented below is information related to Sheffield Corp. for the year 2025. Net sales Cost of goods sold Selling expenses Administrative expenses Dividend revenue Interest revenue (a) $1,456,000 873,600 72,800 53,760 22,400 7,840 Write-off of inventory due to obsolescence Depreciation expense omitted by accident in 2024 Casualty loss Cash dividends declared Retained earnings at December 31, 2024 Effective tax rate of 20% on all items $89,600 61,600 56,000 50,400 1,097,600

Prepare a multiple-step income statement for 2025. Assume that 68,096 shares of common stock are outstanding for the entire year. (Round earnings per share to 2 decimal places, e.g. 1.49.)

b. prepare a rerained earnings statement

Current Attempt in Progress Presented below is information related to Sheffield Corp, for the year 2025. (a) Prepare a multiple-step income statement for 2025. Assume that 68,096 shares of common stock are outstanding for the entire year. (Round earnings per share to 2 decimal places, eg. 1.49.)