E4.17 (LO 2, 3, 5) (Various Reporting Formats) The following information was taken from the records of Roland Carlson Inc. for the year 2020: income tax applicable to income from continuing operations $187,000, income tax applicable to loss on discontinued operations $25,500, and unrealized holding gain on available-for-sale debt securities (net of tax) $15,000. Gain on sale of equipment $ 95,000 Cash dividends declared 150,000 Loss on discontinued operations 75,000 Retained earnings January 1, 2020 600,000 Administrative expenses 240,000 Cost of goods sold 850,000 Rent revenue 40,000 Selling expenses 300,000 Loss on write-down of inventory 60,000 Sales revenue 1,900,000 Shares outstanding during 2020 were 100,000. Instructions a. Prepare a multiple-step income statement. b. Prepare a comprehensive income statement for 2020, using the two statement format. c. Prepare a retained earnings statement for 2020