Question 2 --/1 View Policies Current Attempt in Progress Presented below are selected ledger accounts of Stellar Corporation as of December 31, 2017. Cash Administrative expenses Selling expenses Net sales Cost of goods sold Cash dividends declared (2017) Cash dividends paid (2017) Discontinued operations (loss before income taxes) Depreciation expense, not recorded in 2016 Retained earnings, December 31, 2016 Effective tax rate 30% $63,600 109,900 83.970 557,000 266,900 20,830 16,900 40,500 37,500 93,570 Compute net income for 2017. Net income $ e Textbook and Media Prepare a partial income statement beginning with income from continuing operations before income tax, and including appropriate earnings per share information. Assume 18,700 shares of common stock were outstanding during 2017. (Round earnings per share to 2 decimal places, e.g. 1.58.) Prepare a partial income statement beginning with income from continuing operations before income tax, and including appropriate earnings per share information. Assume 18,700 shares of common stock were outstanding during 2017. (Round earnings per share to 2 decimal places, e.g. 1.58.) STELLAR CORPORATION Income Statement