PART C - Income statement and retained earnings statement. Pakistan Corporation, capital structure consists of 50,000 shares of common stock. At December 31, 20121 an analysis of some accounts and discussions with company officials revealed the following information Sales revenue $3,250,000 Loss from sales investment 163,000 Selling expenses 128.000 Cash 60,000 Accounts receivable 90,000 Common stock 200,000 Cost of goods sold 900.000 Accumulated depreciation-machinery 180,000 Dividend revenue 168,000 Unearned service revenue 124,400 Interest payable 11,000 Land 370,000 Patents 100,000 Retained earnings, January 1, 2021 270,000 Interest expense 117,000 Administrative expenses 170,000 Dividends declared and paid 24,000 Allowance for doubtful accounts 125.000 Notes payable (maturity 7/1/2025) 200.000 Error of depreciation for 2020 10.000 Machinery 450.000 Inventory 40.000 General expenses 140,000 Accounts payable 60.000 Income taxes expenses 72.900 Instructions (a) Prepare a multiple-step income statement (b) Calculate the earnings per share for this company (c) Prepare a retained earnings statement. 30 points