Malone Inc., operates in two components, one is a supermarket business and another oe is the providing restaurant services. Malone Corporation's capital structure consists of $100,000$ shares of common stock. At December $31,2017$ an analysis of the accounts and discussions with company officials revealed the following information:

Additional information: Tax rate $20\backslash \%$ applied to the last two items

Instructions:

a$)$ Calculate COGS

b$)$ Prepare Multistep Income Statement and Earning per Share

c$)$ Prepare a Retained Earnings$|$Statement$.$

$\backslash$begin$\{$tabular$\}\{|$l$|$l$|\}$

$\backslash$hline Sales & $\backslash (\backslash$$ $4,145,000\backslash )\backslash \backslash$

$\backslash$hline Sales R$,$ A$,$ and D & $25,000\backslash \backslash$

$\backslash$hline Purchase discounts & $18,000\backslash \backslash$

$\backslash$hline Purchases & $\backslash (1,442,000\backslash )\backslash \backslash$

$\backslash$hline Selling Expenses & $128,000\backslash \backslash$

$\backslash$hline Cash & $60,000\backslash \backslash$

$\backslash$hline Accounts Receivable & $90,000\backslash \backslash$

$\backslash$hline Common Stock & $200,000\backslash \backslash$

$\backslash$hline Accumulated Depreciation & $180,000\backslash \backslash$

$\backslash$hline Dividend Revenue & $8,000\backslash \backslash$

$\backslash$hline Inventory, January $1,2017$ & $152,000\backslash \backslash$

$\backslash$hline Inventory, December $31,2017$ & $82,000\backslash \backslash$

$\backslash$hline Freight$-$in & $3,000\backslash \backslash$

$\backslash$hline Unearned Service Revenue & $4,400\backslash \backslash$

$\backslash$hline Accrued Interest Revenue & $1,000\backslash \backslash$

$\backslash$hline Loss on sale of Land & $3,000\backslash \backslash$

$\backslash$hline Patents & $100,000\backslash \backslash$

$\backslash$hline Retained Earnings, January, $1,2017$ & $290,000\backslash \backslash$

$\backslash$hline Interest Expense & $17,000\backslash \backslash$

$\backslash$hline General and administrative expenses & $150,000\backslash \backslash$

$\backslash$hline Dividends declared on common stock & $29,000\backslash \backslash$

$\backslash$hline Dividends declared on preferred stock & $15,000\backslash \backslash$

$\backslash$hline Income taxes expense & $48,000\backslash \backslash$

$\backslash$hline $\backslash$begin$\{$tabular$\}\{$l$\}$

Extraordinary loss on the building, $\backslash \backslash$

destroyed by tsunami

$\backslash$end$\{$tabular$\}$ & $200,000\backslash \backslash$

$\backslash$hline $\backslash$begin$\{$tabular$\}\{$l$\}$

Gain on sale of restaunt component's $\backslash \backslash$

assets, including the income on $\backslash \backslash$

discounted operations from the $\backslash \backslash$

restaunrant component

$\backslash$end$\{$tabular$\}$ & $500,000\backslash \backslash$

$\backslash$hline

$\backslash$end$\{$tabular$\}$