Problem 1 (20 Points) Pink Floyd Inc., provided the following information for the year 2020. Retained earnings, January 1, 2020 Administrative expenses Selling expenses Sales revenue Cash dividends declared Cost of goods sold Loss of discontinued operations Rent revenue Unrealized holding gain on available-for-sale debt securities Income tax applicable to continuing operations Income tax benefit applicable to loss on discontinued operations Income tax applicable to unrealized holding gain on available-for-sale debt securities 672,000 268,800 336,000 2.128,000 89,600 952,000 123.200 115,024 19.040 209.440 67,760 2,240 a) Prepare a single-step income statement for 2020. Shares outstanding during 2020 were 100,000. (Round earning per share to 2 decimal places, e.g. $1.48.) b) Prepare a retained earnings statement for 2020. c) Prepare a statement of comprehensive income using the two statement format