NOTE: All revenue, expense figures are before taxes ADDITIONAL INFORMATION: 1. The company performed a year end physical count of its imventory as at December 31,2020 The amount of inventory on hand ot December 31, 2020 amounted to 3415,700 inventory is montained on a PERJODIC bosis 2. Assume that the tax rate was 30% All accounts on the Trial Balance are before tax 3. The amount of common stock outstanding on vanuary 1, 2020 wos 50,000 in 2020 , common stock was issued as follows. on Aanl 1:20,000 comman shares were rasued and on September 1: 30,000 common shares were issued. 4. An emor was discovered in the comoany's 2019 financial statements. Depreciotion Expense in 2019 was understaied by $35,000. REQUIRED: 1. Prepare a detailed multi-step income statement (including EPS presentation) for the year ended December 31,2020. Show calculations for EPS (for continuing and discontinued seetions) Show details of COST OF GOODS SOLD and OPERATING EXPENSES sections. 2. Prepare a Statement of Retained Earnings for the year ended December 31, 2020