B. During 2018, SuperPlus Ltd discovered that certain items valued at $4.2m had been included in inventories at 31 December 2017, and in fact these items were sold before the year end. The draft figures (extract) below were provided for you: Sales Cost of goods sold Profit before taxation Income taxes Net profit 2017 2018 $'000 $'000 47,400 67,200 (34,570) (55,800) 12,830 11,400 (3,880) (3,400) 8,950 8,000 Other relevant information extracted from the accounting records: 1. Retained earnings at 1 January 2017 were $13m 2. The cost of goods sold for 2017 includes the $4.2m error in opening inventory 3. The income tax rate was 30% for 2017 and 2018 Required: i. Prepare a detailed income statement for 2018 with 2017 comparative. ii. Calculate the retained earnings for both years (3 marks) (2 marks)