balance of $339,770 at July 1,2019 . There are 80,550 shares of common stock outstanding. Total Revenues 1,535.009 Expenses: Cost of Goods Sold Depreciation Expense 11,734 Salaries and Wages expense 56,480 Travel Expense Total Expenses Income Before Income Tax * 7,602 Net Income / (Loss) Earnings Per Share $ CONCORD CORPORATION Retained Earnings Statement For the Year Ended June 30.2020 Retained Earnings, July 1.2019, as Reported : $ 339.770 Correction of Depreciation Understatement : Retained Earnings, July 1, 2019, as Adjusted : Add : : Net Income/ (Loss) 539.019 Dividends Declared on Common Stock Dividends Declared on Preferred Stock $ 34.320 Retained Earnings, June 30,2020 Using the multiple-step form, prepare an income statement for the year ended June 30,2020. (Round earnings per share de Telephone and Internet Expense Maintenance and Repairs Expense Total Administrative Expenses * Income from Operations 302,627 Other Revenues and Gains Dividend Revenue Other Expenses and Losses. Interest Expense 17.500 Income Before Income Tax 326,687 Income Tax Net Income / (Loss) $ Earnings Per Common Share $ 2.58 Using the single-step form, prepare an income statement for the year ended June 30,2020 . (Round earnings per share to 2 The Retained Earnings account had a balance of $339,770 at July 1,2019 . There are 80,550 shares of common stock outstanding