Falcon Corporation's information for $2025$ is presented below: Falcon Corporation

Retained Earnings Statement

For the Year Ended December $31,2025$

Falcon Corporation decided to discontinue its entire retail operations and to retain its manufacturing and wholesale

operations. On September $15,$ Falcon sold the retail operations to Eagle Corporation. During $2025,$ there were $700,000$

shares of common stock outstanding all year.

Instructions:

Prepare a multiple$-$step income statement for the year $2025.$

Prepare a retained earnings statement for the year $2025.$