Solution for QID #1148: The following pretax amounts pertain to the Evans Corp. for | StudyHelpMe

The following pretax amounts pertain to the Evans Corp. for the year ended December 31, 2015.Sales ………………………………………….Operating expenses ………………………………Interest expense ………………………………..Cost of goods sold ………………………………Gain on sale of equipment ………………………..Prior period adjustment ………………………….Gain on disposal of business component………………Retained earnings, January 1, 2015 ………………..Dividends declared ………………………………$ 400,00084,0004,000280,00010,000(16,000)40,0001,600,00012,000The effective corporate tax rate is 30 percent. The company had 10,000 shares of commonstock outstanding for the entire year.(1) Prepare a multiple-step income statement in good form for the year ended December31, 2015.(2) Prepare a retained earnings statement in good form for the year ended December 31,2015.