INCOME STATEMENT PREPARATION Old Yeller Corporation is headquartered in the Texas Panhandle and had the following income statement items for the year ended March 31, 2023: Administrative expenses $ 330,000 Net sales $ 5,400,000 Cost of goods sold 3,150,000 Selling expenses 420,000 Interest expense 60,000 The following additional information is available. 1. Yeller received $30,000 in dividends on its investment in Benji Corporation stock. In November, Yeller sold its Benji stock at a loss of $200,000 (that investment turned out to be a dog!) 2. Yeller operates a chain of retail pet stores called Turner and Hooch. In June, the employees in the southwest region went on strike to obtain an increase in their profit-sharing percentage. Yeller experienced a loss of $105,000 as a result of the strike. 3. During the year, the company disposed of its pet food manufacturing division, Snoopys Snacks, and had pre-tax income from operations of $480,000. There was a loss on disposal of the divisions assets of $700,000 before tax. 4. One of Yellers subsidiaries, Pepe LaPeu, is located in France, where the company breeds French Poodles (what else?). For 2023 they incurred a pre-tax gain on foreign currency translation of $200,000. 5. In July, a nearby fireworks stand exploded causing a grassfire which burned down Yellers dog training facilities Rin Tin Tins Rules. Yeller received an insurance settlement that netted a pretax gain of $900,000. (How can they have a gain from a fire loss?!?!?) 6. During 2023 Yellers auditors, Scooby-Doo CPAs discovered that a material error in calculating depreciation was made in FYE (fiscal year end) 2020. The effect of that mistake would have increased income by $180,000 before income taxes. 7. 500,000 shares of common stock were outstanding throughout the year. Retained Earnings at the beginning of the year was $3,703,000. During 2023 Yeller paid dividends of $1.50 per common share. 8. Income tax expense has not yet been accrued. The income tax rate is 20% on all items of income (loss). Required: 1. Prepare a multiple step income statement for 2023, including Earnings per share (EPS) disclosures for Old Yeller. 2. Prepare a separate Statement of Comprehensive Income for 2023. 3. Prepare a Statement of Retained Earnings for 2023