Prepare the followings: (a) Multistep income statement;

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Problem #1 - [11 marks] 11.0 points possible (graded, results hidden) Tibra Inc.'s trial balance TBAcontained the following accounts at December 31, 2021, the end of company's fiscal year. Accounts Balances ($) Accumulated Depreciation-Building..... 123000 Accumulated Depreciation-Equipment. 37000 Additional Paid in Capital-Common Stock.. 227000 Auditors Fee 209000 Buildings.... 410000 Cash 174710 Common Stock ($2 each)... 111000 Cost of Goods Sold 1087000 Equipment 201000 Interest Expense 22700 Loss on Sale of Property 7580 Merchandise Inventory 230000 Mortgage Loan 103000 Rent Revenue 51000 2/7 Retained Earnings ... .... 51400 Salaries and Wages Expense 104000 ........ Sales ... ... 1758000 Sales Returns and Allowances 9010 Supplies .... 6400 Additional Data: 1. Physical check on December 31, 2021, reveals that inventory actually on hand is $224000. 2. Buildings are being depreciated @10% under straight line method, Equipment is being depreciated @20% under declining balance method. 3. Supplies on hand totaled $2300 on December 31, 2021, 4. $0.30000000000000004 dividend per share was declared. 5. The company is under 30% tax bracket