Multiple-step income statement

Twinkle Berries Corporation

Retained earnings, December 31, 2011 $650,000

Sales Revenue 1,400,000

Selling and Administrative Expenses 240,000

Hurricane Loss (pre-tax) on plant (extraordinary item) 270,000

Cash dividends declared on common stock 33,600

Cost of goods sold 830,000

Gain resulting from computation error on depreciation charge in 2010 (pre-tax) 520,000

Other revenue 120,000

Other expenses 100,000

Prepare in good form a mulitple-step income statement for the year 2012. Assume a 30% tax rate and that 80,000 shares of common stock were outstanding during the year.