Problem #2 Presented below are 11 income statement items from Eastern Company for the year ended December 31, 2020. Sales revenue Cost of goods sold Interest revenue Loss from abandonment of plant assets Gain from extinguishment of debt Selling expenses Administrative expenses Effect of change in estimated useful lives of fixed assets (included in administrative expenses) Loss from earthquake Gain on disposal of discontinued operation $2,700,000 1,150,000 15,000 45,000 28,000 290,000 190,000 35,000 30,000 50,000 Instructions: a. Using the information above, prepare a multiple-step income statement. Assume a tax rate of 30% and 100,000 shares of common stock outstanding during 2020. b. Compute comprehensive income for Eastern in 2020, assuming Eastern had an unrealized holding loss on an available for-sale debt investment, net of tax, $12,000