Presented below is information related to Ivan Calderon Corp. for the year ended December 31, 2020.

Tim Mattke Company began operations in 2018 and adopted weighted-average method for inventory. In 2020, in accordance with other companies in its industry, Tim Mattke changed its inventory policy to FIFO. Financial statement data is as follows.

	Pretax Income
Year	Weighted Average	FIFO		Income Tax Rate	Dividends Declared
2018	$ 370,000	$ 395,000		20%	$ 0
2019	390,000	430,000		20%	100,000
2020	410,000	450,000		20%	80,000

Instructions: Prepare a statement of retained earnings for the current year.

Prepare a multiple-step income statement. Round earnings per share to 2 decimal places.

Prepare a statement of retained earnings.