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The following information was taken from the records of Sheffield Inc. for the year 2025:...

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Accounting

The following information was taken from the records of Sheffield Inc. for the year 2025: Income tax applicable to income from continuing operations $257,380; income tax applicable to loss on discontinued operations $34,000; income tax applicable to unusual gain $44,200; income tax applicable to unusual loss $30,600; and unrealized holding gain on available-for-sale securities, net of taxes, $22,000.
Unusual gain
$130,000
Cash dividends declared
$190,000
Loss on discontinued operations
100,000
Retained earnings January 1,2025
790,000
Administrative expenses
320,000
Cost of goods sold
1,200,000
Rent revenue
57,000
Selling expenses
380,000
Unusual loss
90,000
Sales
2,600,000
Shares outstanding during 2025 were 100,000.
Prepare a single-step income statement for 2025.(Round earnings per share to 2 decimal places, e.g.1.48.)

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