The following are selected ledger accounts of Wildhorse Corporation at December 31, 2017. Cash $189,090 Salaries...

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The following are selected ledger accounts of Wildhorse Corporation at December 31, 2017. Cash $189,090 Salaries and wages expense (sales) $288,090 Inventory 539,090 Salaries and wages expense (office) 350,090 Sales revenue 4,279,090 Purchase returns 19,090 Unearned sales revenue 121,090 Sales returns and allowances 83,090 Purchases 2,790,090 Freight-in 76,090 38,090 Accounts receivable 31,090 Sales commissions 73,090 Telephone and Internet expense (sales) Utilities expense (office) 28,090 Miscellaneous office expenses Sales discounts 146,590 Purchase discounts 87,090 Selling expenses Accounting and legal services Insurance expense (office) Advertising expense 21,090 37,090 36,090 12,090 58,090 Rent revenue 244,090 Delivery expense 97,090 Casualty loss (before tax) 74,090 Depreciation expense (office equipment) Depreciation expense (sales equipment) 52,090 Interest expense 180,090 40,090 Common stock ($10 par) 904,090 Wildhorse's effective tax rate on all items is 34%. A physical inventory indicates that the ending inventory is $690,090. Prepare a condensed 2017 income statement for Wildhorse Corporation. The following are selected ledger accounts of Wildhorse Corporation at December 31, 2017. Cash $189,090 Salaries and wages expense (sales) $288,090 Inventory 539,090 Salaries and wages expense (office) 350,090 Sales revenue 4,279,090 Purchase returns 19,090 Unearned sales revenue 121,090 Sales returns and allowances 83,090 Purchases 2,790,090 Freight-in 76,090 38,090 Accounts receivable 31,090 Sales commissions 73,090 Telephone and Internet expense (sales) Utilities expense (office) 28,090 Miscellaneous office expenses Sales discounts 146,590 Purchase discounts 87,090 Selling expenses Accounting and legal services Insurance expense (office) Advertising expense 21,090 37,090 36,090 12,090 58,090 Rent revenue 244,090 Delivery expense 97,090 Casualty loss (before tax) 74,090 Depreciation expense (office equipment) Depreciation expense (sales equipment) 52,090 Interest expense 180,090 40,090 Common stock ($10 par) 904,090 Wildhorse's effective tax rate on all items is 34%. A physical inventory indicates that the ending inventory is $690,090. Prepare a condensed 2017 income statement for Wildhorse Corporation.