View Policies Current Attempt in Progress Presented below is information related to Swifty Corp. for the year 2020 Net sales $1,092,000 $67,200 Cost of goods sold 655.200 46,200 Selling expenses 54,600 42.000 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 Administrative expenses 40.320 37,800 Dividend revenue 16,800 823,200 Interest revenue 5,880 Prepare a multiple-step income statement for 2020. Assume that 63.840 shares of common stock are outstanding for the entire year. (Round earnings per share to 2 decimal places, e.g. 1.49.) Prepare a separate retained earnings statement for 2020. (List items that increase adjusted retained earnings first.) SWIFTY CORP. Retained Earnings Statement TA 24 - 17 W N MacBook Pro SWIFTY CORP. Income Statement For the Year Ended December 31, 2020 Revenue Net Sales $ Cost of Goods Sold Gross Profit (Loss) Operating Expenses Selling Expenses $ Administrative Expenses Total Operating Expenses 24 17 ... W MacBook Pro Total Operating Expenses Income From Operations Other Revenues and Gains Dividend Revenue Interest Revenue Expenses 17 W N MacBook Pro Question 9 of 10 - 71 TIL SI e Textbook and Media List of Accounts W 17 9 ... MacBook Pro