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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 Cost of goods sold Operating expenses Gain on debt retirement Interest expense Loss from discontinued operations Retained earnings balance, December 31, 2019 Dividends declared and paid Unrealized holding gain on debt investment securities, net of tax Common stock, weighted average shares outstanding $650,000 275,000 200,000 50,000 20,000 125,000 75,000 62,500 10,000 25,000 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. Single-step Income Statement Statement of Comprehensive Income Retained Earnings balance Single-step Income Statement Statement of Comprehensive Income Retained Earnings balance a. Prepare a single-step income statement. Assume an average 25% tax rate on all items. Include earnings per share disclosures. Avoca Auto Corp. Income Statement For the Year Ended December 31, 2020 $ Total revenues and gains Total expenses and losses Income from continuing operations $ Per share: $ $ Single-step Income Statement Statement of Comprehensive Income Retained Earnings balance b. Prepare a comprehensive income statement by showing a separate but consecutive statement of comprehensive income. Ignore earnings per share disclosures. Avoca Auto Corp. Income Statement For the Year Ended December 31, 2020 $ Total revenues and gains Total expenses and losses Income from continuing operations $ Avoca Auto Corp. Comprehensive Income Statement For the Year Ended December 31, 2020 $ $ Single-step Income Statement Statement of Comprehensive Income Retained Earnings balance c. Compute the ending retained earnings balance at December 31, 2020. $