Delaney Products, Inc. provided the following information from its current- year trial balance.

Delaney issued $ 55,000 of common stock on October 1 of the current year. The company also repurchased $ 13,500 of its shares at the end of the reporting period. The company is subject to a 40% income tax rate.
Required
a. Prepare an income statement for the current year using each reporting format (single- step, multiple- step, and condensed, multiple- step with supporting disclosures).
b. Prepare a separate statement of comprehensive income for the current year.

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Delaney Products, Inc. Trial Balance For the Year Ended December 31 Debit Credit Account Common Stock ino par Beginning Balance Retained Earnings-Beginning Balance Accumulated Other Comprehensive Income Beginning Balance Dividends Sales Dividend Income Interest Income Gain on Disposal of Plant Assets Unrealized Gain on Trading Securities Cost of Goods Sold Selling Expenses Advertising Expense Office Salaries Expense Sales Salaries Expense Office Supplies Expense Accounting and Legal Fees-Administrative Systems Consulting Fees-Administrative Amortization Expense-Administrative Depreciation Expense-Administrative Interest Expense Unrealized Loss on Available-forSale Investments-fore Tax Loss on Asset Impairment Loss on Discontinued Operations-Before Tax $ 82,000 750,000 210,000 S 125 400,000 866 4,000 890 200 25,000 5,000 7000 6,700 2,100 2,000 300 350 5,500 8.250 900 933 467 1.000