Prepare a Multi-step income statement with the following information was taken from the records of Nash Inc. for the year 2017: Income tax applicable to income from continuing operations $206,176; income tax applicable to loss on discontinued operations $26,452, and unrealized holding gain on available-for-sale securities (net of tax) $17,900.

Gain on sale of equipment		$95,300		Cash dividends declared		$157,900
Loss on discontinued operations		77,800		Retained earnings January 1, 2017		561,800
Administrative expenses		247,800		Cost of goods sold		876,200
Rent revenue		41,200		Selling expenses		316,100
Loss on write-down of inventory		63,300		Sales Revenue		1,973,300

Shares outstanding during 2017 were 108,400.

Income Statement