E4-17 (L03,4,6,7) (Various Reporting Formats) The following information was taken from the records of Roland Carlson Inc. for the year 2017: income tax applicable to income from continuing operations $187,000, income tax applicable to loss on discontinued operations $25,500, and unrealized holding gain on available-for-sale securities (net of tax) $15,000.
Gain on sale of equipment $ 95,000 Cash dividends declared $ 150,000 Loss on discontinued operations 75,000 Retained earnings January 1, 2017 600,000 Administrative expenses 240,000 Cost of goods sold 850,000 Rent revenue 40,000 Selling expenses 300,000 Loss on write-down of inventory 60,000 Sales revenue 1,900,000 Shares outstanding during 2017 were 100,000.
Instructions

(a) Prepare a single-step income statement.

(b) Prepare a comprehensive income statement for 2017, using the two statement format.

(c) Prepare a retained earnings statement for 2017.