At the end of 2019, Wyatt Company's accountant presented you with the following account balances just prior to the preparation of the financial statements. Rent revenue Interest expense Gain on sale of Land Salaries and wages expense (selling) Supplies (selling) Salaries and wages expense (administrative) Other administrative expenses Cost of goods sold Net sales Depreciation on plant assets (70% selling, 30% administrative) Cash dividends declared $ 30,000 15,000 10,000 104,000 18,000 $134,000 51,000 480,000 980,000 70,000 20.000 Wyatt Corp, has 100,000 shares of common stock outstanding. In 2019. Additional transactions that occurred in 2019 and not included in the balances above are as follows. 1. In 2019. Wyatt Corp. sold equipment for $40,000. The machine had originally cost $80,000 and had accumulated depreciation of $30,000. The gain or loss is considered non-recurring. 2. The company discontinued operations of one of its subsidiaries during the current year at a loss of $60,000 before taxes. Assume that this transaction meets the criteria for discontinued operations. The loss from operations of the discontinued subsidiary was $20.000 before taxes; the loss from disposal of the subsidiary was $40,000 before taxes. Requirements: 1. Analyze the above information and prepare a multiple-step income statement for the year 2019. Include a presentation for earnings per share as it should be shown on the face of the income statement. [30 points] (Assume a total effective tax rate of 40% on all items.) 2. Prepare a Statement of retained earnings for Wyatt Company. [20 points]