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help!!! P6. Porter Corporation's capital structure consists of 50,000 shares of common stock. At December 31, 2017 an analysis of the accounts and discussions with

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P6. Porter 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 Earthquake loss Selling expenses Cash Accounts receivable Common stock Cost of goods sold Accumulated depreciation-machinery Dividend revenue Unearned service revenue Interest payable Land Patents Retained earnings, January 1, 2017 Interest expense Administrative expenses Dividends declared and paid Allowance for doubtful accounts Notes payable (maturity 7/1/2020) Machinery Materials Accounts payable The amount of income taxes applicable was $33,600. $1,200,000 80,000 128,000 60,000 90,000 200,000 701,000 180,000 8,000 4,400 1,000 370,000 100,000 290,000 17,000 170,000 24,000 5,000 200,000 450,000 40,000 60,000 Instructions (a) Prepare a multiple-step income statement (b) Prepare a retained earnings statement

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