Problem 1 (15 Points) Pink Floyd Inc., provided the following information for the year 2020. Retained earnings, January 1, 2020 672,000 Administrative expenses 268,800 Selling expenses Sales revenue 336,000 Cash dividends declared 2, 128,000 Cost of goods sold 89,600 Loss of discontinued operations 952,000 Rent revenue 123,200 Unrealized holding gain on available-for-sale debt securities 115,024 19,040 Income tax applicable to continuing operations 209,440 Income tax benefit applicable to loss on discontinued operations 67,760 Income tax applicable to unrealized holding gain on available-for-sale debt 2,240 securities a) Prepare a condensed income statement for 2020. Shares outstanding during 2020 were 100,000. (Round earning per share to 2 decimal places, e.g. $1.48.) b) Prepare a retained earnings statement for 2020. c) Prepare a statement of comprehensive income using the two statement format