(Financial statements) For the year ended December 31, Dutch Retail, Inc., recorded the items listed here. Prepare an income statement for the year...

A3. (Financial statements) For the year ended December 31, Dutch Retail, Inc., recorded theitems listed here. Prepare an income statement for the year ended December 31 for DutchRetail, Inc. Please use an appropriate format, such as the one in Table 3-2.Cost of goods sold $200Interest expense 100Preferred dividends paid 50Common dividends paid 100Selling expenses 65Administrative expenses 100Depreciation expense 150Sales revenues 900Taxes = 40% of taxable income