Below is the data you will need to prepare a multi-step income statement (using good form) in Excel. Please use formulas in Excel when the opportunity presents itself. The following information is available for Acme Company for the year ending December 31, 2021. Please note all amounts are before taxes are considered

Retained earnings balance January 1, 2021 $980,000 Sales revenue 25,000,000 Cost of goods sold 16,000,000 Interest revenue 70,000 Selling and administrative expenses 4,700,000 Write-off of goodwill 820,000 Income taxes for 2021 38.04% Gain on sale of investments 110,000 Loss due to flood damage 390,000 Loss on the disposition of the wholesale division 1,156,677 Loss on operations of the wholesale division 236,593 Dividends declared on common stock 250,000 Dividends declared on preferred on preferred stock 80,000 Acme Company decided to discontinue its entire wholesale operation (considered a discontinued operation) and to retain its manufacturing operations. On September 15, Acme sold the wholesale operation to Billings Company. During 2021, there were 500,000 shares of common stock outstanding all year.