E4-17B (Various Reporting Formats) The following information was taken from the records of Cantu Inc.

E4-17B (Various Reporting Formats) The following information was taken from the records of Cantu Inc. for the year 2014. Income tax applicable to income from continuing operations $261,800; income tax applicable to loss on discontinued operations $35,700; income tax applicable to extraordinary gain $45,220; income tax applicable to extraordinary loss $28,560; and unrealized holding gain on available-for-sale securities

$21,000.

Extraordinary gain                                        $133,000         Cash dividends declared                    $ 210,000

Loss on discontinued operations               105,000          Retained earnings January 1, 2014    840,000

Administrative expenses                               336,000         Cost of goods sold                               1,190,000

Rent revenue                                                      56,000         Selling expenses                                     420,000

Extraordinary loss                                             84,000         Sales                                                       2,660,000

Shares outstanding during 2014 were      100,000.

Instructions

(a) Prepare a multiple-step income statement for 2014.

(b) Prepare a retained earnings statement for 2014.

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