Presented below is information related to Dombroski Corp., for the year 2020

Net sales	$1,850,000
Cost of Good Sold	1,150,000
Selling expenses	95,000
Administrative expenses	70,000
Dividend income	30,000
Interest income	20,000
Interest expense	20,000
Write-off of goodwill due to impairment	75,000
Depreciation expense erroneously omitted in 2018	105,000
Dividends declared on preferred stock	120,000
Loss from operations of discontinued component of business	240,000
Gain from disposal of component of business	300,000
Federal tax rate of 20% on all items

Required:

1. Prepare a multiple-step income statement for 2020. Assume the 200,000 shares of common stock were outstanding during 2020.
2. Prepare a Statement of Retained Earnings for the year 2020. the ending balnace reported for retained earnings as at 12/31/2013 was $275,000