The ledger of Sheridan Corporation at November 30, 2017, contains the following summary data:

Cash dividendscommon $63,000

Operating expenses $1,106,000

Cash dividendspreferred 23,000

Other comprehensive incomeloss on

equity investments (before income tax) 76,000

Common shares 318,000

Rent revenue44,000

Cost of goods sold 7,240,000

Preferred shares ($5 noncumulative)386,000

Depreciation expense 346,000

Retained earnings, December 1, 2016737,000

Sales. 9,016,000

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 $16,200 before income tax. The division was sold at a loss of $73,000 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.

1. prepare multiple-step income statement for the year.
2. prepare statement of comprehensive income as a separate statement.