The following account balances were included in the trial balance of Skysong Corporation at June 30, 2020.

Sales revenue		$1,591,380		Depreciation expense (office furniture and equipment)		$6,799
Sales discounts		31,400		Property tax expense		7,117
Cost of goods sold		897,600		Bad debt expense (selling)		4,411
Salaries and wages expense (sales)		56,910		Maintenance and repairs expense (administration)		8,681
Sales commissions		99,340		Office expense		5,590
Travel expense (salespersons)		31,300		Sales returns and allowances		57,189
Delivery expense		22,560		Dividends received		36,590
Entertainment expense		14,840		Interest expense		18,510
Telephone and Internet expense (sales)		9,120		Income tax expense		105,270
Depreciation expense (sales equipment)		5,097		Depreciation understatement due to error2020 (net of tax)		18,787
Maintenance and repairs expense (sales)		5,655		Dividends declared on preferred stock		9,610
Miscellaneous selling expenses		4,254		Dividends declared on common stock		33,420
Office supplies used		3,722
Telephone and Internet expense (administration)		2,677

The Retained Earnings account had a balance of $335,100 at July 1, 2019. There are 84,450 shares of common stock outstanding.

1.Using the multiple-step form, prepare an income statement for the year ended June 30, 2020.

2.Prepare a retained earnings statement for the year ended June 30, 2020.

3.Using the single-step form, prepare an income statement for the year ended June 30, 2020

4.Prepare a retained earnings statement for the year ended June 30, 2020.