Exercise 4-17 The following information was taken from the records of Concord Inc. for the year 2020: Income tax applicable to income from continuing operations $164,560; income tax applicable to loss on discontinued operations $22,440, and unrealized holding gain on available-for-sale securities (net of tax) $13,200. Gain on sale of equipment Loss on discontinued operations Administrative expenses Rent revenue Loss on write-down of inventory $83,600 66,000 211,200 35,200 52,800 Cash dividends declared Retained earnings January 1, 2020 Cost of goods sold Selling expenses Sales Revenue $132,000 960,000 748,000 264,000 1,672,000 Shares outstanding during 2020 were 100,000. Prepare a single-step income statement (with respect to items in Income from operations). (Round earnings per share to 2 decimal places, e.g. 1.48.) CONCORD INC. Income Statement 0 Prepare a comprehensive income statement for 2020, using the two statement format. CONCORD INC. Comprehensive Income Statement Prepare a retained earnings statement for 2020. (List items that increase retained earnings first.) CONCORD INC. Retained Earnings Statement Exercise 4-17 The following information was taken from the records of Concord Inc. for the year 2020: Income tax applicable to income from continuing operations $164,560; income tax applicable to loss on discontinued operations $22,440, and unrealized holding gain on available-for-sale securities (net of tax) $13,200. Gain on sale of equipment Loss on discontinued operations Administrative expenses Rent revenue Loss on write-down of inventory $83,600 66,000 211,200 35,200 52,800 Cash dividends declared Retained earnings January 1, 2020 Cost of goods sold Selling expenses Sales Revenue $132,000 960,000 748,000 264,000 1,672,000 Shares outstanding during 2020 were 100,000. Prepare a single-step income statement (with respect to items in Income from operations). (Round earnings per share to 2 decimal places, e.g. 1.48.) CONCORD INC. Income Statement 0 Prepare a comprehensive income statement for 2020, using the two statement format. CONCORD INC. Comprehensive Income Statement Prepare a retained earnings statement for 2020. (List items that increase retained earnings first.) CONCORD INC. Retained Earnings Statement