The trial balance of Tolmie Inc. for the year ended September 30, 2021, prior to recording of tax expenses, but after all other adjustments, follows below. All accounts are represented by their normal balance (debit or credit). Tolmie has a tax rate of 30%. Accounts payable Accounts receivable ........ Cash.......... .................................... $ 80,000 40,000 50,000 ..... 15 Cash dividends.. Common shares Cost of goods sold. Dividends payable.. Interest expense....... Inventory ............... Operating expenses ............. Preferred shares Retained earnings, beginning balance ........ Sales revenue .......... Taxes payable..... 7,000 30,000 175,000 4,000 4,500 120,000 92,300 25,000 11,900 320,000 100 Instructions: Prepare the income statement and statement of retained earnings using good format for Tolmie Inc. for the year ended September 30, 2021