prepare a single step income statement

retained earnings= $366,850

common stock= 76,590 shares

Office expense 9,573 Sales returns and allowances 6,000 Dividends revenue 62,296 Interest expense 39,960 Income tax expense 19,520 95,130 Depreciation understatement due to error-2025 (net of tax) 18,423 Dividends declared on preferred stock 8,240 Dividends declared on common stock 36.850