Acc423-The accounts of Consolidated Can contain the following amounts at December 31, 2008:

The accounts of Consolidated Can contain the following amounts at December 31, 2008:

Cost of products sold

410000

Dividends

3000

Extraordinary gain (net of tax)

1,000

Income taxes

9,300

Interest expense

8,700

Other income

1,600

Retained earnings,

270,000

Sales

480,000

Selling and administrative expense

42,000

Required:

Prepare a multiple-step income statement combined with a reconciliation of retained earnings for the year ended December 31, 2008.