Cullumber Ltd. is a private corporation reporting under ASPE. It has recorded all necessary adjusting entries at its fiscal year end, October 31,2021 . The following information has been taken from the adjusted trial balance: All accounts have normal balances and total assets equal $733,000. Cullumber has a 20% income tax rate. Prepare a multiple-step income statement for the year. CULLUMBER LTD. Income Statement $ Prepare a statement of retained earnings for the year. (List items that increase retained earnings first.) is reauired. select "No Entrv" for the account titles and enter O for the amounts.) Post the closing entries to the Income Summary and Retained Earnings accounts. (Post entries in the order of Journal entry presented in the previous part.)