Prepare IN GOOD FORM for Abrams Corp. for the fiscal year ended March 31, 2022 using the information in the table below: 1. a statement of comprehensive income 2. statement of retained earnings Create tables on Word or a spreadsheet on Excel (it is far easier to fix any mistakes discover) for your statements you All amounts below are before taxes. The appropriate tax rate is 21%. Sales revenue General and administrative expenses Research & development expense Interest revenue Loss on sale of investment Operating loss of Honduran division sold on February 1, 2022 Preferred dividends declared Retained earnings, 4/1/21 Discovered on April 15, 2022, that depreciation was not recorded in fiscal year 2020 $1,000,000 Interest expense $ 5,000 60,000 Gain on sale of equipment 5,000 25,000 Cost of goods sold 645,000 3,000 Selling expenses 90,000 1,000 Total Dividends Declared 30,000 25,000 Loss due to Hurricane Ida 20,000 20,000 Gain on sale of Honduran division sold February 1, 2022 5,000 250,000 Foreign currency 6,500 translation, loss 7,500 Weighted average common shares outstanding 50,000 sh Abrams Corp Income Statement For the year ended March 31,2022 Sales Revenue 1,000,000 Less: Cost of Goods Sold 645,000 Gross Profit 355,000 Less: Operating Expenses General and Admin. Expense 60,000 Selling Expenses 90,000 Research & Development Expense 25,000 Operating Expenses 175,000 Operating Income 180,000 Interest Revenue -3,000 Interest Expense 5,000 Gain on Sale of Equipment -5,000 Loss on Sale of Investment 1,000 Operating loss of Honduran division sold 25,000 23,000 157,000 Loss due to Hurrican Ida 20,000 Gain on Sale of Honduran Business -5,000 15,000 Income before prior period items 142,000 Prior Period Items Depreciation not recorded in 2020 7,500 Income before tax 134,500 Tax Rate @21% 28,245 Net Income 106,255