The following information was taken from the accounting records of Winnifred Corp. at January 1, 2017. The income tax rate is 40%. Preferred shares, $1 cumulative, 50,000 shares authorized, 10,000 shares issued. Retained earnings, balance as of January 1,2017 Cost of goods sold Gain on sale of discontinued segment Sales revenue Selling expenses Sales Returns Sales Discounts Administrative expenses Operating income, discontinued segment Loss on expropriation of land Common shares, unlimited number of shares authorized, 200,000 shares issued Requirement 1 $150,000 287,000 635,000 80,000 1,463,500 215,000 10,000 3,500 112,000 33,000 46,000 315,000 Open t-accounts for the ledger records and add the amounts from the accounting records given above.