(Various Reporting Formats) The following information was taken from the records of Roland Carlson Inc. for the year 2014. Income tax applicable to income from continuing operations $187,000; income tax applicable to loss on discontinued operations $25,500; income tax applicable to extraordinary gain $32,300 income tax applicable to extraordinary loss $20,400; and unrealized holding gain on available for-sale securities $15,000.
Shares outstanding during 2014 were 100,000.
(a) Prepare a single-step income statement.
(b) Prepare a comprehensive income statement for 2014, using the two statement format.
(c) Prepare a retained earnings statement for 2014.