Exercise 4-09 (Part Level Submission) Presented below is information related to Skysong Corp. for the year 2020. Net sales Cost of goods sold Selling expenses Administrative expenses Dividend revenue $1,170,000 702,000 58,500 43,200 18,000 6,300 Write-off of inventory due to obsolescence Depreciation expense omitted by accident in 2019 Casualty loss Cash dividends declared Retained earnings at December 31, 2019 Effective tax rate of 20% on all items $72,000 49,500 45,000 40,500 882,000 Interest revenue (a) Prepare a multiple-step income statement for 2020. Assume that 60,800 shares of common stock are outstanding for the entire y share to 2 decimal places, e.g. 1.49.) SKYSONG CORP. Income Statement $ By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor