Peanut Corporation is a private corporation using IFRS. At December 31, 2020, an analysis of the accounts and discussions with company officials included the following account balances and other information: Accounts receivable $102,000 Accrued interest payable 1,000 Dividend revenue 9,000 Sales revenue 600,000 Purchase discounts 9,000 Purchases 360,000 Accounts payable 30,000 Loss from fire (net of $7,000 tax) 21,000 Selling expenses 64,000 Common shares (20,000 issued; no change during 2020) 200,000 Accumulated depreciation 90,000 Long-term note payable (due Oct 1, 2024) 100,000 Inventory, Jan 1, 2020 76,000 62,500 Inventory, Dec 31, 2020 Supplies inventory 40,000 Unearned service revenue 3.000 Land, at cost (fair value is $450.000) 370.000 Cash Franchise 60,000 100,000 135,000 8,500 (18,000) Retained earnings, Jan 1, 2020 Interest expense Cumulative effect of change from straight-line to accelerated depreciation (net of $6,000 tax) prior to 2020 General and administrative expenses Dividends declared and paid Allowance for doubtful accounts Loss from discontinued operation (before tax) Machinery and equipment 80,000 15,000 5,000 20,000 225,000 Unless indicated otherwise, you may assume a 25% income tax rate. . General and administrative expenses include depreciation. Peanut has chosen to account for its land at fair value but the bookkeeper does not understand what to do so he has kept the land's recorded value at cost. There are no preferred shares issued. Instructions a. Prepare, in good form, a multiple-step comprehensive income statement. b. Prepare, in good form, the retained earnings portion of the statement of changes in equity