Flintlnc. provided the following information for the year 2017. Retained earnings, January 1, 2017 Administrative expenses Selling expenses Sales revenue Cash dividends declared Cost of goods sold Loss on discontinued operations Rent revenue Unrealized holding gain on available-for-sale securities Income tax applicable to continuing operations Income tax benefit applicable to loss on discontinued operations Income tax applicable to unrealized holding gain on available-for-sale securities $ 589,400 246,000 307,200 1,812,200 83,000 821,500 78,200 40,200 16,900 192,700 43,010 2,000 Prepare a single-step income statement for 2017. Shares outstanding during 2017 were 100,000. (Round earnings per share to 2 decimal places, e.g. $1.48.) FLINT, INC. Income Statement For the Year Ended December 31, 2017 Revenues Sales Revenue Rent Revenue Total Revenues 1,812,200 40,200 1,852,400 Expenses Cost of Goods Sold Administrative Expenses Selling Expenses Dividends 821,500 246,000 307,200 83,000 1,457,700 394,700 Total Expenses Loss on Discontinued Operations Less Applicable Income Tax Reduction Net Income/ (Loss) 78,200 43,010 35,190