Presented below is information related to Tidal Wave Company. Retained earnings, December 31, 20X2 $ 2,350,000 Sales 2,600,000 Selling and administrative expenses 240,000 Earthquake loss (pre-tax) on plant (extraordinary item) 250,000 Cash dividends declared on common stock 53,600 Cost of good sold 1,000,000 Gain resulting from computation error on depreciation charge in 2009 (pre-tax) 520,000 Other revenue 80,000 Other expenses 50,000 Instructions: Prepare in good form a multiple-step income statement for the year 20X2. Assume a 30% tax rate and that 100,000 shares of common stock were outstanding during the year.