Citrus Product of Belize Limited's capital structure consists of 100,000 shares of common stock. At December 31, 2021 an analysis of the accounts and discussions with company officials revealed the following information: Sales revenue Discontinued operations loss (net of tax) Selling expenses Cash Accounts receivable Common stock Cost of goods sold Accumulated depreciation-machinery Dividend revenue Unearned service revenue $1,450,000 76,500 130,000 60,000 90,000 200,000 760,000 180,000 10,000 4,400 Interest payable 1,000 Land 370,000 Patents: 100,000 Retained earnings, January 1, 2021 270,000 Interest expense Administrative expenses 18,000 165,000 Dividends declared Allowance for doubtful accounts Notes payable (maturity 7/1/24) Machinery Materials Accounts payable Other information: 24,000 5,000 200,000 450,000 40,000 60,000 1. When its chairman of the board died, the company realized $650,000 from an insurance policy. Th cash surrender value of this policy has been carried on the books as an investment in the amount of $525,000. 2. Sales of securities held as a part of its portfolio resulted in a gain of $60,000. 3. The amount of income taxes applicable to income was $81,900, excluding the tax effect of the discontinued operations loss which amounted to $29,000. 4. The company experienced an uninsured hurricane loss in amount of $160,000 during the year. Instructions Prepare a multiple-step income statement. (20 Points)