Financial Statements Jane Corporation's capital structure consists of 50,000 shares of common stock. At December 31, 2017 an analysis of the accounts and discussions with company officials revealed the following information: Sales revenue Discontinued operations loss (net of tax) Selling expenses Cash Accounts receivable Common stock Cost of goods sold Accumulated depreciation-machinery Dividend revenue Uneamed service revenue Interest payable Land $1,500,000 63,360 120,000 60,000 90,000 133,500 700,000 180,000 12,000 Retained earnings, January 1, 2017 Interest expense Administrative expenses Dividends declared Allowance for doubtful accounts Notes payable (maturity 7/1/20) Machinery Inventory Accounts payable Income Taxes 1,000 370,000 100,000 270,000 21,000 50,000 24,000 5,000 200,000 450,000 40,000 60,000 177,140 Instructions (a) Prepare a multiple-step income statement. (b) Prepare a retained earnings statement. (c) Prepare a balance sheet statement