The accountant of Splish Shoe Co. has compiled the following information from the company's records as a basis for an income statement for the year ended December 31, 2020, Rent revenue $32,300 Interest expense 21,300 Market appreciation on land above cost 34.300 Salaries and wages expense (selling) 118,100 Supplies expense (selling) 20,900 Income tax 26.400 Salaries and wages expense (administrative) 139.200 Other administrative expenses 55.000 Cost of goods sold 499,300 Net sales 983,300 Depreciation on plant assets (70% selling 30% administrative) 68,300 Cash dividends declared 19.300 There were 20,000 shares of common stock outstanding during the year SPLISH SHOE CO. Income Statement . $ $
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