Q1/ Presented below is information related to Tom Hanks A company, for the year 2000.net sales 1500000, Cost of goods sold 900000, Selling expenses 70,000, Administrative expenses 50,000, Dividend revenues 35000, Interest revenues 10,000, Dividend declared 270, 000, Retained earnings December 31/2000, 600000, income tax rate 36% on all items. Instructions: a) prepare an income statement for the year ended in 31/12/2000. b) prepare retained earnings statement for the year ended in 31/12/ 2000 : Assume that 90000 shares of common stock were outstanding during the year