Time: 10:31 AM) Remaining: 68 min. Additional Problem OS The following information is taken from the accounting records of Pharoah 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 Cash Common shares (19,000 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) $86,500 253,000 100,000 1,254,500 724,000 130,000 70,500 190,000 18,300 124,000 4,100 370,000 20,000 160,000 180,000 73,000 154,000 49,000 11,000 Pharoah Corporation is subject to a 25% income tax rate. Prepare a multiple-step income statement in good form for Pharoah Corporation (earnings per share information is not required) Pharoah Corporation Income Statement G O c e to search