PLEASE HELP WILL RATE! MUST BE MULTI-STEP INCOME STATEMENT

Pr. 4-128 Income statement and retained earnings statement. Porter Corporation's capital structure consists of 50,000 shares of common stock. At December 31, 2014 an analysis of the accounts and discussions with company officials revealed the following information Sales revenue Earthquake loss (net of tax) (extraordinary item) Selling expenses Cash Accounts receivable Common stock Cost of goods sold Accumulated depreciation-machinery Dividend revenue Unearned service revenue Interest payable Land Patents Retained earnings, January 1, 2014 Interest expense Administrative expenses Dividends declared Allowance for doubtful accounts Notes payable (maturity 7/1/17) Machinery Materials Accounts payable $1,200,000 56,000 128,000 60,000 90,000 200,000 701,000 180,000 8,000 4,400 1,000 370,000 100,000 290,000 17,000 170,000 24,000 5,000 200,000 450,000 40,000 60,000 The amount of income taxes applicable to ordinary income was $57,600, excluding the tax effect of the earthquake loss which amounted to $24,000 Instructions (a) Prepare a multiple-step income statement. (b) Prepare a retained earnings statement