The following information is taken from the accounting records of Pharoah Corporation, a Canadian public company, for the year ended December 31, 2020.

Accounts receivable$90,500Retained earnings, January 1, 2020262,500Loss on operation of discontinued operations (before tax)99,000Sales revenue1,227,000Cost of goods sold731,000Selling expenses125,000Cash58,500Common shares (20,000 common shares outstanding)200,000Dividend revenue18,400Inventory123,000Unearned revenue

4,400Land350,000Interest expense19,000Administrative expenses159,000Notes payable (maturity 2026)180,000Accounts payable71,000Gain on disposal of discontinued operations (before tax)

169,000Depreciation expense45,000Loss on disposal of equipment (before tax)

15,000

Pharoah Corporation is subject to a 25% income tax rate.

make a multiple-step income statement in good form for Pharoah Corporation (earnings per share information is not required).