Presented below is information related to Sarasota Corp. for the year 2017.

Net sales		$1,397,100		Write-off of inventory due to obsolescence		$84,330
Cost of goods sold		788,400		Depreciation expense omitted by accident in 2016		40,100
Selling expenses		68,000		Casualty loss		48,600
Administrative expenses		54,500		Cash dividends declared		43,270
Dividend revenue		21,400		Retained earnings at December 31, 2016		1,028,140
Interest revenue		8,830		Effective tax rate of 34% on all items

Prepare a multiple-step income statement for 2017. Assume that 62,370 shares of common stock are outstanding. (Round earnings per share to 2 decimal places, e.g. 1.49.) SARASOTA CORP. Income Statement

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	$

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$

Show List of Accounts

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Prepare a separate retained earnings statement for 2017. (List items that increase retained earnings first.) SARASOTA CORP. Retained Earnings Statement

$

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$

Presented below is information related to Sarasota Corp. for the year 2017.

Net sales		$1,397,100		Write-off of inventory due to obsolescence		$84,330
Cost of goods sold		788,400		Depreciation expense omitted by accident in 2016		40,100
Selling expenses		68,000		Casualty loss		48,600
Administrative expenses		54,500		Cash dividends declared		43,270
Dividend revenue		21,400		Retained earnings at December 31, 2016		1,028,140
Interest revenue		8,830		Effective tax rate of 34% on all items

Prepare a multiple-step income statement for 2017. Assume that 62,370 shares of common stock are outstanding. (Round earnings per share to 2 decimal places, e.g. 1.49.) SARASOTA CORP. Income Statement

		$

	$

:

$

Show List of Accounts

Link to Text

Link to Text

Link to Text

Prepare a separate retained earnings statement for 2017. (List items that increase retained earnings first.) SARASOTA CORP. Retained Earnings Statement

$

:

:

$