a. Prepare an income statement for the current year using each reporting format (single-step, multiple-step, and condensed, multiple-step with supporting disclosures). Round to the nearest dollar.

b. Prepare a separate statement of comprehensive income for the current year

Delaney Products, Inc. Trial Balance (Partial) For the Year Ended December 31 Account Debit Credit Common Stock (no par)Beginning Balance $ 82,000 Retained EarningsBeginning Balance 750,000 Accumulated Other Comprehensive IncomeBeginning Balance 210,000 Dividends $ 125 Sales 400,000 Dividend Income 866 Interest Income 4,000 Gain on Disposal of Plant Assets 890 Unrealized Gain on Trading Securities 200 Cost of Goods Sold 25,000 Selling Expenses 5,000 Advertising Expense 7,000 Office Salaries Expense 6,700 Sales Salaries Expense 2,100 Office Supplies Expense 2,000 Accounting and Legal FeesAdministrative 300 Systems Consulting FeesAdministrative 350 Amortization ExpenseAdministrative 5,500 Depreciation ExpenseAdministrative 8,250 Interest Expense 900 Unrealized Loss on Available-for-Sale InvestmentsBefore Tax 933 Loss on Asset Impairment 467 Loss on Discontinued OperationsBefore Tax 1,000

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