PLEASE help.I posted the templates for the assignment.Thank you

set of financial statements prepared by Oberlin Financial Statement Deficiencies The following is the complete P5-11 105.4 Corporation: Statement of Income and Retained Earnings For the Fiscal Year Ended August 31, 2016 AICPA Adapted $3,500,000 Sales Less discounts Net sales less cost of goods sold $3,465,00O ,039,000) 2,426,000 Gross margin Less: Selling expenses General and administrative expenses $1,000,000 1,079,000 079,000 347,000 Operating earnings Add other revenues: Purchase discounts Gain on increased fair value of real estate Gain on sale of treasury stock Correction of error in last year's statement $ 10,000 100,000 200,000 90,000 400,000 747,000 53,000 $800,000 320,000) $ 480,000 2,690,000 $3,170,000 Ordinary earnings Add gain on sale of fixed asset Earnings before income tax Less income tax expense Net earnings Add beginning retained earnings ess: Dividends (12% dividend declared but not yet issued) Contingent liability (Note 2) (120,000) 300,000) Ending retained earnings 2,750,000