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Question 21 25 pts Porter Corporation's capital structure consists of 50.000 shares of common stock outstanding. At December 31, 2020 an analysis of the accounts and discussions with company officials revealed the following information Sales $1.100.000 Purchase Discounts $18.000 5642.000 Purchases Earthquake loss $42.000 $128.000 Selling expenses Cash $60,000 $90.000 $200,000 $180.000 $8.000 Accounts receivable Common stock Accumulated depreciation Dividend revenue Inventory, Jan 1, 2020 Inventory, Dec 31, 2020 Uneamed service revenue Accrued interest payable $152.000 $125.000 $4.400 $1,000 $370.000 Land $100.000 $290,000 $17.000 $150,000 $29.000 Patents Retained earnings, Jan 1, 2020 Interest expense General & administrative expenses Dividends declared Allowance for doubtful accounts Notes payable maturity 7/1/23) Machinery and equipment Materials and supplies Accounts payable $5.000 $200,000 $450.000 $40.000 560.000 The amount of income taxes was $56.600. Required: la) Prepare a multiple-step income statement. [20 points) Prepare a retained earnings statement. 5 points] ib)