P3.1 (LO 1,2,3) (Multiple-Step Statement, Retained Earnings Statement) The following infor- mation is related to Dickinson Company for 2025. Retained earnings balance, January 1, 2025 Sales revenue Cost of goods sold $ 980,000 25,000,000 16,000,000 70,000 Interest revenue Selling and administrative expenses 4,700,000 Write-off of goodwill 820,000 Income taxes for 2025 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) 440,000 Loss on operations of the wholesale division (net of tax) 90,000 Dividends declared on common stock 250,000 Dividends declared on preferred stock 80,000 Dickinson Company decided to discontinue its entire wholesale operations (considered a discontinued oper- ation) and to retain its manufacturing operations. On September 15, Dickinson sold the wholesale operations to Rogers Company. During 2025, there were 500,000 shares of common stock outstanding all year. Instructions Prepare a multiple-step income statement and a retained earnings statement. Sten Statement, Retained Earnings Statement, Periodic Inventory)