Acc423-The following information was taken from the records of Gibson Inc. for the year 2012:

The following information was taken from the records of Gibson Inc. for the year 2012: income tax applicable to income from continuing operations $127,600; income tax applicable to loss on discontinued operations $31,500; income tax applicable to extraordinary gain $33,592; income tax applicable to extraordinary loss $21,726; and unrealized holding gain on available-for-sale securities $23,900.

Extraordinary gain

$98,800

Loss on discontinued operations

75,700

Administrative expenses

245,900

Rent revenue

46,300

Extraordinary loss

63,900

Cash dividends declared

158,100

Retained earnings January 1, 2012

600,800

Cost of goods sold

852,600

Selling expenses

304,500

Sales

1,719,600

Shares outstanding during 2012 were

100,800.

a. Prepare a single-step income statement for 2012. (Round earnings per share to 2 decimal places, e.g. $1.48.)

b. Prepare a retained earnings statement for 2012.

c. Show how comprehensive income is reported using the income statement format

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