Question 11 Partially correct Mark 0.16 out of 0.83 P Flag question Edit question Preparing an Income Statement and a Statement of Comprehensive Income The following pretax amounts are taken from the adjusted trial balance of Avoca Auto Corp. at December 31, 2020, its annual year-end. Sales revenue $780,000 Cost of goods sold 330,000 Operating expenses 240,000 Gain on debt retirement 60,000 Interest expense 24,000 Loss from discontinued operations 150,000 Retained earnings balance, December 31, 2019 90,000 Dividends declared and paid 75,000 Unrealized holding gain on debt investment securities, net of tax 12,000 Common stock, weighted average shares outstanding 30,000 shares Required a. Prepare a single-step income statement. Assume an average 25% tax rate on all items. Include earnings per share disclosures. b. Prepare a comprehensive income statement by showing a separate but consecutive statement of comprehensive income. Ignore earnings per share disclosures. C. Compute the ending retained earnings balance at December 31, 2020. Enter revenues and gains and expenses and losses in the order of the largest dollar amount to the smallest dollar amount. Do not use negative signs with any of your answers. Enter the answers for per share amounts in dollars and cents, rounded to the nearest penny