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Question 4 View Policies Current Attempt in Progress The following balances were taken from the books of Skysong Corp. on December 31, 2020. Interest revenue $87,250 52,250 Cash Sales revenue 1,381,250 Accounts receivable 151,250 Prepaid insurance 21,250 Accumulated depreciation-equipment $41,250 Accumulated depreciation-buildings 29,250 Notes receivable 156,250 Selling expenses 195,250 Accounts payable 171,250 Bonds payable 101,250 Administrative and general expenses 98,250 Accrued liabilities 33,250 Interest expense 61,250 Notes payable 101,250 Sales returns and allowances 151,250 8.250 Allowance for doubtful accounts Sales discounts 46,250 Land 101,250 201,250 Equipment Buildings Loss from earthquake damage 141,250 622,250 151,250 501,250 Cost of goods sold Common stock Retained earnings 22,250 Assume the total effective tax rate on all items is 20%. Assume the total effective tax rate on all items is 20%. Prepare a multiple-step income statement: 100,000 shares of common stock were outstanding during the year. (Round earnings per share to 2 decimal places, eg. 1.48.) SKYSONG CORP. Income Statement Per share of common stock