PRINTER VERSION BACK NEXT Question 2 The following information is taken from the accounting records of Oriol Corporation, a Canadian public company, for the year ended December 31, 2020 Accounts receivable Retained earnings, January 1, 2020 Loss on operation of discontinued operations (before tax) Sales revenue Cost of goods sold Selling expenses $85,500 253,000 99,500 1,128,000 725,000 129,000 71,500 180.000 17.600 Common shares (18,000 common shares outstanding) Dividend revenue Inventory Unearned revenue Land Interest expense Administrative expenses Notes payable (maturity 2026) Accounts payable Gain on disposal of discontinued operations (before tax) Depreciation expense Loss on disposal of equipment (before tax) 3,500 350,000 19.500 172,000 200.000 52.000 154.000 51,000 13,000 Oriole Corporation is subject to a 25% income tax rate. Prepare a multiple-step income statement in good form for Oriole Corporation (earnings per share information is not required) Oriole Corporation Income Statement