Oriole Corporation's capital structure consists of 50,000 shares of common stock. At December 31, 2020 an analysis of the accounts and discussions with company officials revealed the following information: Sales revenue Discontinued operations loss (net of tax) Selling expenses Cash Accounts receivable Common stock Cost of goods sold Accumulated depreciation-machinery Dividend revenue Unearned service revenue Interest payable Land Patents Retained earnings, January 1, 2020 Interest expense Administrative expenses Dividends declared Allowance for doubtful accounts Notes payable (maturity 7/1/23) Machinery Materials Accounts payable $1,205,000 59,500 129,400 61,600 91,500 200,000 702,300 180,400 7,600 4,100 1,700 368,000 112,000 299,580 19,700 174,800 22,800 5,300 211,000 451,000 43,000 65,000 The amount of income taxes applicable to income was $55,920, excluding the tax effect of the discontinued operations loss which amounted to $25,500. (a) Prepare a multiple-step income statement. Corporation INCOME STATEMENT $ $ $ Per Share of Common Stock $ $ $ Prepare a retained earnings statement. (List items that increase retained earings first.) Oriole Corporation RETAINED EARNINGS STATEMENT $ $ $ $ > e Textbook and Media