Problem 2: Prepare a multiple step Income Statement (including earnings per share) and a Statement of Retained Earnings, both in good form using the information below for Becker Import Company for the year ended 12/31/2021. You might not use all of the financial information below. Not every balance on the companys trial balance has been provided; you may not use all information provided below. All amounts are before tax unless stated otherwise. The tax rate is 20%. Retained Earnings= $5 million.

Found an error that led the company to under-record depreciation for the prior 4 years in the amount of $35,000	Discontinued operations had a loss of $1,000,000. Disposal of the segment yielded a gain of $300,000	The company had 500,000 shares of common stock outstanding at year end	A change in accounting policy from FIFO to LIFO resulted in an increase in prior period income of $25,000
Cash $500,000	Rent Expense $250,000	Wages and Salaries Expense $950,000	Admin Expenses $250,000
Cost of Goods Sold $2,000,000	Sales Revenue $9,000,000	Loss on Sale of Building (net) $210,000	Loss on sale of vehicle $45,000
Accounts Receivable $3,800,000	Buildings $10,000,000	Accumulated Depreciation on Buildings $7,000,000	Investments $12,000,000
Notes Receivable $400,000	$100,000 dividends declared on preferred stock	$600,000 dividends declared on common stock	100,000 shares of preferred stock outstanding all year
$100,000 unrealized gain on stock investments	$50,000 realized gain on stock investments	Sales Discounts $150,000	Sales Returns and allowances $270,000
Land $450,000	Maintenance Expenses $500,000	Accounts Payable $750,000	Mortgages Payable $4,000,000
Mortgage Interest Expense $200,000	Loss on sale of warehouse $140,000	Accounts Receivable $800,000	Buildings $3,000,000
Investments in Stock $850,000	Interest Income $50,000	Vehicles $410,000	Prepaid Assets $360,000