Presented below is information related to Trump Company. Retained earnings, December 31, 2020 $ 650,000
Sales revenue 1,600,000
Selling and administrative expenses 290,000 Discontinued operations loss (pre-tax) 290,000
Cash dividends declared on common stock 33,600
Cost of goods sold 880,000
Gain resulting from computation error on depreciation charge in 2016 (pre-tax) 520,000
Other revenue 120,000
Other expenses 100,000
Instructions Prepare in good form a multiple-step income statement for the year 2021. Assume a 30% tax rate and that 80,000 shares of common stock were outstanding during the year. (40 points)