The following information was taken from the records of Raiders Inc. for the year 2018. Income tax rate is 35%. There is also unrealized holding gain on available-for-sale securities $25,000.

Unusual gain $155,000 Cash dividends declared $ 180,000

Loss on discontinued operations $140,000 Retained earnings January 1, 2018 $840,000

Administrative expenses $340,000 Cost of goods sold $1,100,000

Rent revenue $50,000 Selling expenses $440,000

Unusual loss $100,000 Sales $2,800,000

Shares outstanding during 2018 were 150,000. Interest expense $80,000

Instructions:

(a) Prepare a multiple-step income statement for 2018.

(b) Prepare a retained earnings statement for 2018.

(c) Prepare a comprehensive income using the two statement format.