The following account balances were included in the trialbalance of Sarasota Corporation at June 30, 2017. Sales revenue $1,579,860 Depreciation expense (office furniture and equipment) $6,762 Sales discounts 31,690 Property tax expense 6,843 Cost ofgoods sold 897,100 Bad debt expense (selling) 4,503 Salaries andwages expense (sales) 56,690 Maintenance and repairs expense(administration) 8,281 Sales commissions 98,950 Office expense5,980 Travel expense (salespersons) 31,900 Sales returns andallowances 63,694 Delivery expense 23,150 Dividends received 39,910Entertainment expense 15,110 Interest expense 16,440 Telephone andInternet expense (sales) 9,080 Income tax expense 98,290Depreciation expense (sales equipment) 5,069 Depreciationunderstatement due to error—2014 (net of tax) 17,004 Maintenanceand repairs expense (sales) 6,440 Dividends declared on preferredstock 9,210 Miscellaneous selling expenses 5,045 Dividends declaredon common stock 38,360 Office supplies used 3,368 Telephone andInternet expense (administration) 3,097 The Retained Earningsaccount had a balance of $ 364,510 at July 1, 2016. There are83,970 shares of common stock outstanding. Using the multiple-stepform, prepare an income statement for the year ended June 30, 2017.(Round earnings per share to 2 decimal places, e.g. 1.48.) SARASOTACORPORATION Income Statement $ : List of Accounts Prepare aretained earnings statement for the year ended June 30, 2017. (Listitems that increase adjusted retained earnings first.) SARASOTACORPORATION Retained Earnings Statement $ : List of Accounts Usingthe single-step form, prepare an income statement for the yearended June 30, 2017. (Round earnings per share to 2 decimal places,e.g. 1.48.) SARASOTA CORPORATION Income Statement $ $ $ eTextbookand Media List of Accounts Prepare a retained earnings statementfor the year ended June 30, 2017. (List items that increaseadjusted retained earnings first.) SARASOTA CORPORATION RetainedEarnings Statement $ :