Ch 1 to 4 F2023 Test i Q mograw-thill - Soarch Question 1 - Ch 1 to 4 f 2023 Te x that spt - Sean ho 1 8073516 Retained earnings, 31 December 29 x Sales revenue Dividend inco Cost of sales (before on efore tax) General, Interest relling, and administrative expenses expense Reduction in prior years' earnings due to change in accounting policy, cumulative to 31 December 20 xx1 (before tax) Dividends declared, to be paid 15 January 20 xx3 Loss due to bankruptcy of major client Dr. / (Cr. (9,200,600) (10,200,000) (78,009) 5,400,000 880,000 1,890,000 113,000 499,000 780,090 150,060 The company pays income tax at a rate of 20%. Required: Prepare an income statement for the year ended