PLEASE SHOW WORK THANK YOU.

Exercise 4-09 (Part Level Submission) Presented below is information related to Bonita Corp. for the year 2020. Net sales Cost of goods sold Selling expenses Administrative expenses Dividend revenue Interest revenue $1,248,000 748,800 62,400 46,080 19,200 6,720 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 $76,800 52,800 48,000 43,200 940,800 Prepare a multiple-step income statement for 2020. Assume that 58,368 shares of common stock are outstanding for the entire year. (Round earnings per share to 2 decimal places, e.g. 1.49.) BONITA CORP. Income Statement For the Year Ended December 31, 2020 TRevenue Sales Discounts Sales Returns and Allowan TT Operating Expenses Total Operating Expenses T Selling Expenses 62,400 T Administrative Expense 46,080 T Total Operating Expenses 16,320 TIncome From Operations TOther Revenues and Gains [Dividend Revenue 19,200 T Interest Revenue T 6,720 25,920 TOther Expenses and Losses Income Before Income Tax Income From Operations TNet Income / (Loss) TEarnings Per Common Share