(Multiple-step Statement with Retained Earnings) Presented below is information related to Trieu Corp. for the year 2014 $1,200,000 780,000 65,000 Write-off of inventory due to obsolescence Depreciation exp. omitted by accident in 2009 Casualty loss (extraordinary item) before taxes $80,000 40,000 Net sales Cost of goods sold Selling expenses 50,000 Admin, expenses Dividend revenue Interest revenue 48,000 20,000 7,000 Dividends declared Retained earnings at December 31, 2009 Effective tax rate of 34% on all items 45,000 980,000 Instructions (a) Prepare a multiple-step income statement for 2014. Assume that 60,000 shares of common stock are outstanding