Multiple Step Income Statement and Retained Earnings Classifications

1. Operating Revenues

2. Operating Expenses

3. Other Revenues & Gains

4. Other Expenses & Losses

5. Discontinued Operations

6. Cumulative Effect of Change in Accounting Principle

7. Adjustment to Beginning Retained Earnings Balance

8. Retained Earnings Statement Indicate by number the financial classification of each of the above items.

(Multiple-Step Statement with Retained Earnings Statement) Presented below is information related to Ivan Calderon Corp. for the year 2020.

Net sales $1,300,000 Write-off of inventory due to obsolescence $80,000 Cost of goods sold 780,000 Depreciation expense omitted by accident in 2019 55,000 Selling expenses 65,000 Casualty loss 50,000 Administrative expenses 48,000 Cash dividends declared 45,000 Dividend revenue 20,000 Retained earnings at December 31, 2019 980,000 Interest revenue 7,000

Effective tax rate of 20% on all items Indicate by number the financial classification of each of the above items.