2. Statement of Income Presentation (Chapter 4) - 12 marks The following information was taken from Sadlon Ltd's adjusted trail balance as at December 31, 2021: Sales revenue $1,045,800 Interest revenue 7,200 Utilities expense 24,000 Insurance expense 6,000 Administration expenses 90,250 Cost of goods sold 396,000 Distribution expenses 230,250 Depreciation expense 81,000 Interest expense 16,500 Income tax expense 56,700 Dividends declared common shares 15.000 Dividends declared preferred shares 20.000 Required: a) Prepare a single-step statement of income for the year ended December 31, 2021. b) Prepare a multi-step statement of income for the year ended December 31, 2021. c) If Sadlon had 35,000 common shares outstanding throughout the year, determine the company's basic earnings per share. d) Determine Sadlon's gross margin percentage for the year