Current Attempt in Progress The following information was taken from the records of Sheffield Inc. for the year 2020: Income tax applicable to income from continuing operations $209.440; income tax applicable to loss on discontinued operations $28,560, and unrealized holding gain on available-for-sale securities (net of tax) $16,800. Gain on sale of equipment $106,400 Cash dividends declared $168,000 Loss on discontinued operations 84,000 Retained earnings January 1, 2020 2,400,000 Administrative expenses 268,800 Cost of goods sold 952,000 Rent revenue 44,800 Selling expenses 336,000 Loss on write-down of inventory 67,200 Sales Revenue 2,$28,000 Shares outstanding during 2020 were 100,000. (a) Prepare a single-step income statement (with respect to items in Income from operations). (Round earnings per share to 2 decimal places, eg. 1.48.) SHEFFIELD INC. Income Statement