The following information was taken from the records of Whispering Winds Inc. for the year 2020: Gain from expropriation $ 255,000 Cash dividends declared $ 270,000 Loss from operation of discontinued Rochelle Division 257,000 Retained earnings, January 1, 2020 1,810,000 Administrative expenses 760,000 Cost of goods sold 2,610,000 Rent revenue 120,000 Selling expenses 905,000 Loss from flood damage 240,000 Sales revenue 5,900,000. The following additional information was also available: income tax applicable to income from continuing operations, $ 461,000; income tax recovery applicable to loss from operation of discontinued Rochelle Division, $ 54,000. The company has elected to adopt ASPE.

Prepare a single-step income statement for 2020, showing expenses by function

Prepare a combined single-step income and retained earnings statement. (List items that increase retained earnings first.)