Exercise 4-17 The following information was taken from the records of Sunland Inc. for the year 2017: Income tax applicable to income from continuing operations $243,338; income tax applicable to loss on discontinued operations $28,900, and unrealized holding gain on available-for-sale securities (net of tax) $24,600 Gain on sale of equipment Loss on discontinued operations Administrative expenses Rent revenue Loss on write-down of inventory $95,300 sh dividends declared 85,000 240,100 43,400 67,700 Retained earnings January 1, 2017 Cost of goods sold Selling expenses Sales Revenue $162,200 651,900 784,300 320,100 1,989,200 Shares outstanding during 2017 were 96,000 Your answer is partially correct. Try again Prepare a multiple-step income statement. (Round earnings per share to 2 decimal places, e.g. 1.48.) SUNLAND INC. Income Statement December 31, 2017 Revenues Sales Revenue 1989200 Rent Revenue 43400