statement and retained earnings statement. Citrus Product of Belize Limited's capital structure consists of 100,000 shares of common stock. At December 31, 2021 an analysis of the accounts and discussions with company officials revealed the following information: Sales revenue Discontinued operations loss (net of tax) Selling expenses Cash Accounts receivable Common stock Cost of goods sold Accumulated depreciation-machinery $1,450,000 76,500 130,000 60,000 90,000 200,000 760,000 180,000 Dividend revenue 10,000 Unearned service revenue 4,400 Interest payable 1,000 Land 370,000 Patents 100,000 Retained earnings, January 1, 2021 270,000 Interest expense 18,000 Administrative expenses 165,000 Dividends declared 24,000 Allowance for doubtful accounts 5,000 Notes payable (maturity 7/1/24) Machinery Materials 200,000 450,000 40,000 Accounts payable 60,000 Other information: 1. When its chairman of the board died, the company realized $650,000 from an insurance policy. Th cash surrender value of this policy has been carried on the books as an investment in the amount of $525,000. 2. Sales of securities held as a part of its portfolio resulted in a gain of $60,000. 3. The amount of income taxes applicable to income was $81,900, excluding the tax effect of the discontinued operations loss which amounted to $29,000. 4. The company experienced an uninsured hurricane loss in amount of $160,000 during the year. Instructions Prepare a multiple-step income statement. (20 Points)