Your answer is partially correct. Try again. The following balances were taken from the books of Ayayai Corp. on December 31, 2017 8,550 Interest revenue $87,550 Accumulated depreciation-equipment $41,550 Cash 52,550 Accumulated depreciation-buildings 29,550 Sales revenue 1,381,550 Notes receivable 156,550 Accounts receivable 151,550 Selling expenses 195,550 Prepaid insurance 21,550 Accounts payable 171,550 Sales returns and allowances 151,550 Bonds payable 101,550 Allowance for doubtful accounts Administrative and general expenses 98.550 Sales discounts 46,550 Accrued liabilities 33,550 Land 101.550 Interest expense 61.550 Equipment 201,550 Notes payable 101,550 Buildings Loss from earthquake damage 151.550 Cost of goods sold 622,550 Common stock 501,550 Retained earnings 22.550 Assume the total effective tax rate on all items is 34%. Prepare a multiple step income statement: 100.000 shares of common stock were outstanding during the year. (Round earn per share to 2 decimal places, e.g. 1.48.) 141,550 ATAYAI CORP. Income Statement For the Year Ended December 31, 2017 Revenue Sales Revenue 1381550 Less Sales Returns and Allowances d 151550 Sales Discounts 46550 1183950 Net Sales 622050 Cost of Goods Sold 561900 Operating Expenses 41050 Other Expenses and Losses Selling Expenses Administrative Expenses 99550 294100 256800 32550 294100 Income From Operations 266800 Income Before Income Tax Interest Revenue 87550 354350 Other Expenses and Losses Interest Expense 61550 Income Tax Expense 285750 income Before Income Tax 87050 Income Tax Expense 198700 Net Income (Loss) 131142 Earnings Per Common Share Click if you would like to Show Work for this question: Rs . We