Current Attempt in Progress The following are selected ledger accounts of Skysong Corporation at December 31, 2020. Cash $259,000 $397,600 749,000 484,400 Inventory Sales revenue Unearned sales revenue 5.985,000 21,000 163,800 110,600 3,900,400 100,800 47,600 199,500 37,800 116,200 Salaries and wages expense (sales) Salaries and wages expense (office) Purchase returns Sales returns and allowances Freight-in Accounts receivable Sales commissions Telephone and Internet expense (sales) Utilities expense (office) Miscellaneous office expenses Rent revenue Casualty loss (before tax) Interest expense Common stock ($10 par) 96,600 23,800 Purchases Sales discounts Purchase discounts Selling expenses Accounting and legal services Insurance expense (office) Advertising expense Delivery expense Depreciation expense (office equipment) Depreciation expense (sales equipment) 46,200 44,800 33,600 11,200 75,600 336,000 130.200 98,000 67,200 246,400 50,400 627,200 Skysong's effective tax rate on all items is 20%. A physical inventory indicates that the ending inventory is $686,000. Prepare a condensed 2020 income statement for Skysong Corporation. (Round earnings per share to 2 decimal places, e.g. 1.48.) SKYSONG CORPORATION Income Statement $ $