Presented below is information related to Tartan Clothing Corporation for its fiscal year ending December 31, 2021. Tartan operated a kilt division, shoe division, and scarf division during the year. Sadly, due to the lack of success of the scarf division, Tartan made a strategic move to dispose of this division. The following amounts were taken from Tartans December 31, 2021 general ledger (all balances are normal and all amounts are pre-tax): Cost of goods sold $ 810,000 Cash Dividends declared on common stock 81,000 Depreciation expense omitted in 2020 71,000 Gain on sale of investments 20,250 Income from operations of the Scarf division 162,000 Interest expense 30,500 Interest revenue 13,500 Loss from disposal of the Scarf division 202,500 Research and development expenses 47,250 Retained earnings, January 1, 2021 499,000 Sales 1,350,000 Sales returns 34,000 Selling expenses 64,500 Unrealized loss on available for sale debt securities, before tax 148,500 Write-off of obsolete inventory 51,000 Additional information: All amounts are before tax. Assume a 15% tax rate when calculating income taxes. This includes items such as ordinary income, discontinued operations, other comprehensive income, and prior period adjustments if applicable. There are 90,000 shares of common stock outstanding for the Earnings per Share (EPS) disclosure. All EPS amounts should be rounded to pennies. INSTRUCTIONS: Use appropriate headings on all financial statements 1. Prepare an Income Statement (multi-step of course) for the year ended December 31, 2021. 2. Prepare a separate Statement of Comprehensive Income for the year ended December 31, 2021. (This is the two-statement approach) 3. Prepare a Statement of Retained Earnings for the year ended December 31, 2021. Your work should look professional as if you were presenting these financial statements to a client. For example, (1) no abbreviations, (2) use dollar signs, underlines, and double underlines appropriately, (3) use commas for amounts greater than $999, (4) use appropriate headings and (5) round all amounts to dollars (do not show cents except for EPS)