Other information: 1. Roses Paper Company Limited decided to discontinue its entire retail operations and to retain its manufacturing and wholesale operations. On September 15, Caribbean Paper Company sold the retail operations to Caribbean Paper Company Limited. During 2022, there were 700,000 shares of common stock outstanding all year. 2. Recognition of income camed in 2020 but omitted from income statement in that year (net of tax ) by the financial controller for $65,900. 3. There is also a cumulative effect on income of prior years in changing from LIFO to FIFO inventory valuation in 2021 (net of tax) that was omitted by the financial controller for $99,800