include eps - show work / explanation please

View Policies Current Attempt in Progress The following are selected ledger accounts of Splish Corporation at December 31, 2020. Cash $251,600 Salaries and wages expense (sales) Inventory 727,600 Salaries and wages expense (office) Sales revenue 5,814,000 Purchase returns Unearned sales revenue 159,120 Sales returns and allowances Purchases 3,788,960 Freight-in Sales discounts 46,240 Accounts receivable Purchase discounts 36,720 Sales commissions Selling expenses 93,840 Telephone and Internet expense (sales) Accounting and legal services 44,880 Utilities expense (office) Insurance expense (office) 32,640 Miscellaneous office expenses Advertising expense 73,440 Rent revenue Delivery expense 126,480 Casualty loss (before tax) Depreciation expense (office equipment) 65,280 Interest expense Depreciation expense (sales equipment) 48,960 Common stock ($10 par) $386,240 470,560 20,400 107,440 97,920 193,800 112,880 23,120 43,520 10,880 326,400 95,200 239,360 496,160 Splish'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 Splish Corporation. (Round earnings per share to 2 decimal places, e.g. 1.48 SPLISH CORPORATION Income Statement For the Year Ended December 31, 2020