Problem 4-4 The following account balances were included in the trial balance of Whispering Corporation at June 30, 2017 Sales revenue Sales discounts Cost of goods sold Salaries and wages expense (sal Sales commissions Travel expense (salespersons) Delivery expense Entertainment expense Telephone and Internet expense (sales) Depreciation expense (sales equipment) Maintenance and repairs expense (sales) Miscellaneous selling expenses Office supplies used Telephone and Internet expense (administration) $6,895 7,228 5,231 9,178 5,510 58,448 40,410 19,580 98,090 16,634 9,900 37,780 $1,585,240 31,680 906,300 Depreciation expense (office furniture and equipment) Property tax expense Bad debt expense (selling) es) 56,850Maintenance and repairs expense (administration) 98,080 Office expense 35,700 21,590 14,920 9,120 4,820 6,491 4,301 3,160 2,816 Sales returns and allowances Dividends received Interest expense Income tax expense Depreciation understatement due to error-2014 (net of tax) Dividends declared on preferred stock Dividends declared on common stock The Retained Earnings account had a balance of $337,860 at July 1, 2016. There are 80,380 shares of common stock outstanding Using the multiple-step form, prepare an income statement for the year ended June 30, 2017. (Round earnings per share to 2 decimal places, e.g. 1.48.)