Prepare a multiple step income statemetn and a retained earnings statement foDickinson Company decided to discountinue its enture whorlesale operations and the retain its manufacturing operations. On September 15, Dickenson sold the wholesale operations to Rogers Company. Durng 2012, there were 500,000 shares of common stock oustanding all years.

Retained earnings balance Jan 1, 2012 : 980,000

Sales Revenue : 25,000,000

Cost of Goods Solf 16,000,000

Interest Revenue 70,000

Selling and Admin 4,700,000

Write off od Goodwill 820,00

Income taxes for 2012 1,244,000

Gain on sale of investment (normal recurring) 110,000

Loss due to flood (extradoniry item (net of tax: 390,000

Loss of disposition of the wholesale division (net of tax) 440,000

Loss o operations of the wholesale division (net of tax) 90,000

Dividends declared on common stock 250,000

Dividends declads on preferred stock 80,000