The accounts of Consolidated Can contain the following amounts at December 31, 2008:
Cost of products sold $ 410,000
Dividends $ 3,000
Extraordinary gain (net of tax) $1,000
Income taxes $9,300
Interest Expense $8,700
Other Income $1,600
Retained Earnings, 1/1 $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.