3. The schedule below presents the 12/31/2019 trial balance for Zenon Co. Following generally accepted accounting balances, prepare the Income Statement and Statement of Retained Earnings for 2019. The tax rate for 2019 is 28%. Cost of goods sold 4,610,500 35,000 Dividend revenue Dividends 150,000 8,000 Gain on sale of equipment General and Administrative expenses 952,000 Interest revenue 10,000 Loss on sale of short-term investment 20,000 Loss on sale of paving component 50,000 Net income from disposal of paving component 30,000 Restructuring costs 12,000 Retained Earnings, January 1, 2019 550,000 Sales 8,125,000 Sales Discounts 55,000 Sales Returns and Allowances 95.000 Selling expenses 1,050,000 In 2019, the accountant discovered an overstatement of revenue that occurred in 2014 of $50,000 when the tax rate was 30%. During 2019, Zenon had 80,000 weighted average shares outstanding. 3. The schedule below presents the 12/31/2019 trial balance for Zenon Co. Following generally accepted accounting balances, prepare the Income Statement and Statement of Retained Earnings for 2019. The tax rate for 2019 is 28%. Cost of goods sold 4,610,500 35,000 Dividend revenue Dividends 150,000 8,000 Gain on sale of equipment General and Administrative expenses 952,000 Interest revenue 10,000 Loss on sale of short-term investment 20,000 Loss on sale of paving component 50,000 Net income from disposal of paving component 30,000 Restructuring costs 12,000 Retained Earnings, January 1, 2019 550,000 Sales 8,125,000 Sales Discounts 55,000 Sales Returns and Allowances 95.000 Selling expenses 1,050,000 In 2019, the accountant discovered an overstatement of revenue that occurred in 2014 of $50,000 when the tax rate was 30%. During 2019, Zenon had 80,000 weighted average shares outstanding