Tempe Corporation's capital structure consists of 75,000 shares of common stock. The December 31, 2016 account balances are listed below. All adjusting entries have been made except for the accrual of taxes (20% tax rate).

Sales $1,303,600

Purchase discount 18,000

Purchases 642,000

Loss on Discontinued Operations 60,000

Selling expenses 128,000

Cash 60,000

Accounts receivable 90,000

Common stock 200,000

Accumulated depreciation 198,000

Dividend revenue 8,000

Inventory, January 1, 2016 152,000

Unearned service revenue 4,400

Accrued interest payable 1,000

Land 370,000

Patents 100,000

Retained earnings, January 1, 2016 290,000

Interest expense 17,000

General and administrative expenses 150,000

Dividends declared 29,000

Allowance for doubtful accounts 5,000

Notes payable (maturity 7/1/20) 200,000

Machinery and equipment 450,000

Office Supplies 40,000

Accounts payable 60,000

Ending Inv at Dec 31, 2016 was $125,000.

Required

a)Create a 2016 multi-step income statement; include EPS.

b)Create a 2016 retained earnings statement. No corrections of prior periods exist.

c)Create a 12/31/16 balance sheet.