Rain Corporation Income Statement $ Sales Income Taxes 1,000,000 3,900 996,100 $ $ All other expenses (net) Lost of sales 74,200 914,200 $ 998,400 7,700 Net Income Required: a. Prepare an Income Statement as of December 31, 2020, following accounting regulations, and interpret the results! (10 points) b. Prepare a Statement of Financial Position as of December 31, 2020, using the scantron formula and interpret the results! (10 points) c. Calculate the net assets and explain the results! (5 points)