prepare an income statement for the current year using each reporting format (single-step, multiple-step, and condensed, multiple-step with supporting disclosures). round to the nearest dollar.prepare a separate statement of comprehensive income for the current year.p5-8. statement of comprehensive income, single- and two-statement approaches. [learning objective 8] tortarella timber company provided the following information for the current year:operating income amounted to $345,000.the company sold investments in bonds at a pre-tax loss of $23,500.tortarella reported a $5,600 unrealized loss on an available-for-sale portfolio that is included in other comprehensive income.the company reported a $12,000 unrealized gain on its trading portfolio, which is included in net income.tortarella committed to discontinue its retail lumber stores division on january 1 of the current year. the retail lumber stores meet the criteria to be presented as a discontinued operation. the retail lumber stores accounted for 15% of the company’s operating income. the stores were operated all year.the retail lumber stores division was sold at december 31 of the current year for a $16,850 pre-tax loss. there was no gain or loss on remeasurement on january 1.