I'm trying to do this income statement, but can't even seem to get started. I have several other problems that are like this one, but would really like to see an end product. It wasn't discussed much in class and I've been searching all day Presented below is financial information of the Mickey Corporation for 2008 Beginning Retained Earnings, 1/1/08 $950,000 Gain on the Sale of Investments (normal recurring) $110,000 Sales for the Year $30,000,000 Loss Due to Flood Damage (unusual & infrequent) $125,000* Cost of Goods Sold $21,000,000 Loss on Disposal of Retail Division $450,000 Interest Revenue $70,000 Loss on Operations of Retail Division $460,000 Selling and Administrative Expenses 5,500,000 Dividends Declared on Common Stock $230,000 Write-Off of Goodwill $520,000 Dividends Declared on Preferred Stock $80,000 Federal Income Tax on Operations for 2008 1,600,000 *net of tax Mickey Corporation decided to discontinue its retail operations and to retain its manufacturing operations. On August 15, Mickey sold the retail operations to Schoen Company. During 2008, there were 250,000 shares of common stock outstanding all year. Prepare a multiple-step income statement for the year 2008 on a separate Excel spreadsheet as directed in the Problem Set 1 directions