Presented below is information related to Splish Corp. for the year 2020 Net sales $1,638,000 Cost of goods sold 982.800 Selling expenses Administrative expenses 81.900 Write-off of inventory due to obsolescence Depreciation expense omitted by accident in 2019 Casualty loss Cash dividends declared Retained earnings at December 31, 2019 Effective tax rate of 20% on all items $100,800 69,300 63.000 56,700 60,480 Dividend revenue 25.200 Interest revenue 1.234.800 8.820 Your answer is partially correct. Prepare a multiple-step income statement for 2020 Assume that 95,760 shares of common stock are outstanding for the entir year. (Round earnings per share to 2 decimal places, eg. 1.49.) SPUISH CORP Income Statement MacBook Air 80 BDD 15 fo # 3 % A 110 4 5 6 & 7 8 R T Y U D F G H J KI Dividend Revenue 25,200 Interest Revenue 8.820 34020 546.40 Other Expenses and Losses Cantou 69,000 Wielomory Due to Omolescence 100,00 (169.2001 Income before Income Tax 383040 Income Tax ENDOM 176.600) Net Income 306432 Your answer is partially correct. Prepare a separate retained earnings statement for 2020. (List Items that increase adjusted retained earnings first) SPLISH CORP. Retained Earnings Statement For the Year Ended December 31, 2020 1.234,800 Retained Earnings, January 1, as reported 169.300) Correction for Overstatement of Net Income in Prior Period 1,165.500 Retained Earnings, January 1, as adjusted 306,43 Add: Net Income /(Loss) 1471.932 156,700) i Less V: Dividends Declared 1.415.232 Retained Earnings. December 31 Texthoek and Media A