Refer to the following financial statements for Crosby Corporation OSBY CORPORATI Income Statement For the Year Ended December 31, 20X2 Sales Cost of goods sold S4.240,000 2,640.000 1600,000 700,000 300,000 600,000 89,000 511.000 211,000 300,000 Gross profit Selling and administrative expense Depreciation expense Operating income Interest expense Earnings before taxes Taxes Earnings after taxes Preferred stock dividends Earnings available to common stockholders Shares outstanding Earnings per share 290,000 150,000 1.93 Statement of Retained Eamings For the Year Ended December 31. 20X2 S 80.300 290.000 150,000 S 220.300 Retained eamings, balance. January 1. 20X2 Add: Earnings available to common stockholders, 20X2 Deduct Cash dividends declared and paid in 20x2 Retained earnings, balance. December 31, 20X2