GUDS #7 4-1 (L03,4,6) (Multiple-Step Statement, Retained Earnings Statement) The following information is related to Dickin- son Company for 2017. Retained earnings balance, January 1, 2017 Sales revenue Cost of goods sold Interest revenue $ 980,000 25,000,000 16,000,000 70,000 4,700,000 820,000 Selling and administrative expenses Write-off of goodwill Income taxes for 2017 1,244,000 Gain on the sale of investments 110,000 Loss due to flood damage 390,000 Loss on the disposition of the wholesale division (net of tax) Loss on operations of the wholesale division (net of tax) 440,000 90,000 $ 250,000 80,000 Dividends declared on common stock Dividends declared on preferred stock Dickinson Company decided to discontinue its entire wholesale operations (considered a discontinued operation) and to retain its manufacturing operations. On September 15, Dickinson sold the wholesale operations to Rogers Company. During 2017, there were 500,000 shares of common stock outstanding all year. Instructions Prepare a multiple-step income statement and a retained earnings statement.