The ledger of Sandhill Corporation at November 30, 2017, contains the following summary data: Cash dividends-common $64,500 Operating expenses $1,109,000 Cash dividends-preferred 24,500 Other comprehensive income-loss on 79,000 equity investments (before income tax) Common shares 319,500 Rent revenue 47,000 Cost of goods sold 7,270,000 Preferred shares ($5 noncumulative) 389,000 Depreciation expense 349,000 Retained earnings, December 1, 2016 740,000 Sales 9,019,000 Your analysis reveals the following additional information: 1. The company has a 25% income tax rate. 2. The communications devices division was discontinued on August 31. The profit from operations for the division up to that day was $16,800 before income tax. The division was sold at a loss of $74,500 before income tax. 3. There were 200,000 common and 5,000 preferred shares issued on December 1, 2016, with no changes during the year. Prepare a multiple-step income statement for the year. SANDHILL CORPORATION Income Statement V $ > S Prepare a statement of comprehensive income as a separate statement. SANDHILL CORPORATION Statement of Comprehensive Income $ $