Q3. Information related to Batavia Furniture Company for the year ended December 31, 2012, follows. 70,000 Cost of Goods Sold Dividends Declared Flood Loss (pre-tax) General Expense Other Income Other Expense Retained Earnings, January 1, 2010 Sales Selling Expense 5,000 12,000 8,000 9,000 11,000 116,000 131,000 7,000 Required Prepare in good form an income statement for the year 2012. Assume a 50% tax rate (income tax expense is equal to 50% of income before income taxes)