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  3. skysong corporation had net sales of $2,406,400 an

Skysong Corporation had net sales of $2,406,400 and interest revenue of $40,100 during 2020. Expenses...

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Accounting

Skysong Corporation had net sales of $2,406,400 and interest revenue of $40,100 during 2020. Expenses for 2020 were cost of goods sold $1,461,200, administrative expenses $220,800, selling expenses $285,300, and interest expense $53,200. Skysongs tax rate is 30%. The corporation had 104,400 shares of common stock authorized and 73,520 shares issued and outstanding during 2020. Prepare a single-step income statement for the year ended December 31, 2020. (Round earnings per share to 2 decimal places, e.g. 1.48.)

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