Accounts payable Accounts receivable $ 65,100 95,500 Accumulated depreciation (on building) Accumulated depreciation (on data processing equipment) Accumulated depreciation (on trucks) Bonds payable (due Aug. 30, 2023) Building (warehouse) Equipment, data processing Income taxes payable Interest payable Inventory Investments (long-term) Investments (short-term) S309,000 21,600 12,600 187,900 32,700 21,000 41,000 150,000 216,800 172,400 31,200 Land Notes payable (due June 1, 2020) Prepaid insurance (for 4 months) Retained earnings, 12/31/2019 Salaries payable Trucks 200,000 419,900 5,700 ? Cash 11,400 14,400 106,100 Common stock 150,000

1. Prepare a detailed multi-step income statement (including EPS presentation) for the year ended December 31, 2020. Show calculations for EPS (for continuing and discontinued sections). Show details of COST OF GOODS SOLD and OPERATING EXPENSES sections. 2. Prepare a Statement of Retained Earnings for the year ended December 31, 2020.

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Review the select information for Bean Superstore and Legumes Plus (industry competitors), and then complete the following. BEAN SUPERSTOREComparative Balance SheetDecember 31, 2017, 2018, and 2019   2019 2018 2017 Assets       Cash $346,600    $330,460    $300,000    Accounts Receivable 65,000    65,000    59,000    Inventory 145,830    178,011    155,205    Equipment 100,465    101,202    103,085    Total Assets $657,895    $674,673    $617,290    Liabilities       Salaries Payable $90,200    $88,563    $84,209    Accounts Payable 70,000    71,670    69,331    Notes Payable 42,000    50,650    58,250    Equity       Common Stock 22,695    21,490    19,100    Retained Earnings 433,000    442,300    386,400    Total Liabilities and Equity $657,895    $674,673    $617,290      LEGUMES PLUSComparative Balance SheetDecember 31, 2017, 2018, and 2019   2019 2018 2017 Assets       Cash $407,000    $388,450    $356,367    Accounts Receivable…