Exercise 4 9 (Part Level Submission) Presented below is information related to Ivanhoe Corp. for the year 2017 Net sales Cost of goods sold Selling expenses Administrative expenses Dividend revenue Interest revenue 1,399,200 Write-off of inventory due to obsolescence $81,090 781,100 Depreciation expense omitted by accident in 2016 44,900 49,600 45,530 935,010 69,800 57,100 27,000 7,620 Casualty loss Cash dividends declared Retained earnings at December 31, 2016 Effective tax rate of 34% on all items (a) Prepare a multiple-step income statement for 2017. Assume that 65,190 shares of common stock are outstanding. (Round earnings per share to 2 decimal places, e.g.1.49.) IVANHOE CORP Income Statement