Question 1 Amos Corporation was incorporated and began business on January 1, 2020. It has been successful and now requires a bank loan for additional working capital to finance an expansion. The bank has requested an audited income statement for the year 2020. The accountant for Amos Corporation provides you with the following income statement, which Amos plans to submit to the bank: AMOS CORPORATION Income Statement Sales $850,000 Dividends 32,300 Gain on recovery of insurance proceeds from earthquake loss 27,300 Unrealized holding gain on available-for-sale securities 5.000 914,600 Less: Selling expenses $100,100 Cost of goods sold 510,000 Advertising expense 13,700 Loss on obsolescence of inventories 34,000 Loss on discontinued operations 48,605 Administrative expense 73.400 779.800 Income before income tax 134,800 Income tax 53.920 Net income $80.880 There are 100,000 common shares outstanding during the year. Instructions Prepare a revised single-step statement of income and comprehensive income