The following account balances were included in the trial balance of Tarzan, Inc. at March 31, 2021. Sales discounts Depreciation overstatement due to error2017 (net of tax) Miscellaneous selling expenses Travel expense (salespersons) Property tax expense Cost of goods sold Telephone and Internet expense (administration) Sales commissions Office expense Interest expense Delivery expense Bad debt expense (selling) Office supplies used Dividends declared on common stock Maintenance and repairs expense (sales) Depreciation expense (sales equipment) Depreciation expense (office furniture and equipment) Salaries and wages expense (sales) Maintenance and repairs expense (administration) Telephone and Internet expense (sales) Dividends received Sales revenue Dividends declared on preferred stock Sales returns and allowances Entertainment expense Income tax expense 62,300 35.400 9,430 57.860 14,640 1.793,540 5,640 195,200 12,000 36,000 42,800 9,700 6.900 74,000 12,400 9,960 14,500 112,520 18,260 18,060 76,000 3,157,000 18,000 124,600 29,640 204,000 The Retained Earnings account had a balance of $674,000 at April 1, 2020. There are 80,000 shares of common stock outstanding. Instructions: a) Prepare an income statement, using the multiple-step form, for the year ended March 31, 2021 b) Prepare a retained earnings statement for the year ended March 31, 2021