(Multiple-step Statement with Retained Earnings) Presented below is information related to Trieu Corp. for the yea $1,200,000Write-off of inventory due to obsolescence 80,000 780,000 Depreciation exp. omitted by accident in 2009 40,000 Net sales Cost of goods sold Selling expenses Admin. expenses Dividend revenue Interest revenue 50,000 65,000 Casualty loss (extraordinary item) before taxes 48,000 Dividends declared 20,000Retained earnings at December 31, 2009 7,000 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