Financial Statement Preparation Presented below is information related to Bubbles Scuba Diving Inc. for its fiscal year ending September 30, 2020. During the year, the Board of Directors decided to discontinue the operations of its entire Hidden Treasure division but continue to operate its Seaweed operations. In March 2020, Bubbles Scuba Diving Inc. sold the Hidden Treasure operations to Deep Down Company. The following amounts were taken from Bubbles' general ledger: Gain on sale of fixed assets $ 24,000 -Administrative expenses 930,000 Cost of goods sold Dividends declared on common stock 27,000 23,050 Dividend income Overstatement of income due to inventory error in 2016 15,750 Gain from disposal of Hidden Treasure division 82,150 9,500 230,000 750,950 1,500,00 33,000 54,000 4,250 79,000 Loss from operations of Hidden Treasure division Retained earnings, October 1, 2019 -Sales Sales discounts Selling expenses Unrealized gain on foreign currency translation Write-off of inventory due to obsolescence Additional information: All amounts are before tax. Assume a 36% tax rate when calculating income taxes. This includes items such as ordinary income, discontinued operations, other comprehensive income and prior period adjustments if applicable. . There are 30,000 shares of common stock outstanding for the Earnings per Share (EPS) disclosure. All EPS amounts should be rounded to pennies. INSTRUCTIONS: Use appropriate headings on all financial statements 1. Prepare an Income Statement (multi-step of course) for the year ended September 30, 2020. 2. Prepare a separate Statement of Comprehensive Income for the year ended September 30, 2020. (Use the two-statement approach) 3. Prepare a Statement of Retained Earnings for the year ended September 30, 2020. Your work should look professional as if you were presenting these financial statements to a client. For example, (1) no abbreviations, (2) use dollar signs, underlines and double underlines appropriately, (3) use commas for amounts greater than $999, (4) use appropriate headings and (5) round all amounts to dollars (do not show cents)