14 Corporations: Retained Earnings and the Income Statement S1410 CS Rentals Ltd.'s accounting records include the following items, listed in no particular order, at December 31, 2020: Other gains (losses) S(12,500) Cost of goods sold 35,000 Gain on discontinued operations 8,500 Net sales revenue $100,000 Operating expenses 30,000 Accounts receivable 9,500 Income tax of 32 percent applies to all items. Prepare CS Rentals Ltd.'s multi-step income statement for the year ended December 31, 2020. Use a one-column format. Omit earnings per share. 3 Preparing a corporate income statement Net income, $21,080