BACK NEXT Exercise 4-17 (Part Level Submission) The following information was taken from the records of Burtalo Inc. for the year 2017: Income tax applicable to income from continuing operations $194,310; income tax applicable to loss on discontinued operations $28,628, and unrealized holding gain on available for sale securities (net of tax) 516,900. Gain on sale of equipment 398,700 Cash dividends declared $147,000 Loss on discontinued operations 84,200 Retained earnings January 1, 2017 589,500 Administrative expenses 243,600 Cost of goods sold 861,700 Rent revenue 46,600 Seling expenses 307,900 Loss on write-down of inventory 62,900 Sales Revenue 1,902,300 Shares outstanding during 2017 were 98,300 Prepare a single-step income statement. (Round earnings per share to 2 decimal places 1.48.) BUFFALO INC. Income Statement