P4-1 (Multiple-Step Income, Retained Earnings) Presented below is information related to Dickinson Company for 2012. Retained earnings balance, January 1, 2012 $980,000 Sales revenue 25,000,000 Cost of goods sold 16,000,000 Interest revenue 70,000 Selling and administrative expenses 4,700,000 Write-off of goodwill 820,000 Income taxes for 2012 1,244,000 Gain on the sale of investments (normal recurring) 110,000 Loss due to flood damage