E4-9B (Multiple-step Statement with Retained Earnings) Presented below is information related to Trieu Corp. for the year 2014. Net sales $2,600,000 Write-off of inventory due to obsolescence $ 160,000 Cost of goods sold 1,560,000 Depreciation expense omitted by accident in 2013 110,000 Selling expenses 130,000 Casualty loss (extraordinary item) before taxes 100,000 Administrative expenses 96,000 Dividends declared 90,000 Dividend revenue 40,000 Retained earnings at December 31, 2013 1,960,000 Interest revenue 14,000 Effective tax rate of 34% on all items Instructions (a) Prepare a multiple-step income statement for 2014. Assume that 60,000 shares of common stock are outstanding. (b) Prepare a separate retained earnings statement for 2014.