The accounts of Consolidated Can contain the following amounts at December 31, 2010:
Cost of products sold ............. $410,000
Dividends ................. 3,000
Extraordinary gain (net of tax) ......... 1,000
Income taxes ................ 9,300
Interest expense ............... 8,700
Other income ................ 1,600
Retained earnings, 1/1 .............. 270,000
Sales ..................... 480,000
Selling and administrative expense ......... 42,000

Required
Prepare a multiple-step income statement combined with a reconciliation of retained earnings for the year ended December 31, 2010.