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The following information is related to Wildhorse Company for 2020. Retained earnings balance, January 1, 2020 $ 1.215.200 Sales Revenue 31,000,000 Cost of goods sold 19.840,000 Interest revenue 86,800 Selling and administrative expenses 5,828,000 Write-off of goodwill 1,016,800 Income taxes for 2020 1.542.560 Gain on the sale of investments 136,400 483,600 545,600 Loss due to flood damage Loss on the disposition of the wholesale division (net of tax) Loss on operations of the wholesale division (net oftas) Dividends declared on common stock Dividends declared on preferred stock 111.600 310.000 99.200 Wildhorse Company decided to discontinue its entire wholesale operations (considered a discos manufacturing operations. On September 15. Wildhorse sold the wholesale operations to Roger 500.000 shares of common stock outstanding all year fal Prepare a multiple step income statement Round carings pershore to 2 decimos 149) WILDHORSE COMPANY Income Statement Bartended Dec. 2000 3 Costo TO G D 1110000 me from one a 7.83/4 E 22200 Other Expenses and loss Write-off of Goodwill 1,016,800 Los from Flood Dame 453.600 1500400 Income from Continuing Operations Before come 4054100 Income Tax 1545 Income from Continuing Operations Discontinued Options Loson bilspost, Netot Applicable Tiere 545.500 Loss on Operation Net of Apollcable or 111.000 457200 letico TESORO Eine Per Shar commer 31240 7100 Netcom 5 Per Share Income from Continuing 300 Lowon.co 45 LA t.com Textbook and Media Al 10 15 (523 The following information is related to Wildhorse Company for 2020. Retained earnings balance, January 1, 2020 Sales Revenue Cost of goods sold Interest revenue Selling and administrative expenses Write-off of goodwill Income taxes for 2020 Gain on the sale of investments Loss due to flood damage Loss on the disposition of the wholesale division (ne Loss on operations of the wholesale division (net of Dividends declared on common stock Dividends declared on preferred stock Wildhorse Company decided to discontinue its entire wholesale operations (considered a discontinued operation) and to retain its manufacturing operationer beptember 15, te, January 1, 2020 $ 1,215,200 31,000,000 19,840,000 86,800 e expenses 5,828,000 1,016,800 1,542,560 ments 136,400 483,600 Fthe wholesale division (net of tax) 545,600 wholesale division (net of tax) 111,600 mmon stock 310,000 eferred stock 99,200 Wildhorse Company decided to discontinue its entire wholesale operations (considered a