Presented below is information related to Cheyenne Corp. for the year 2017.

Net sales$1,333,000Write-off of inventory due to obsolescence$81,850Cost of goods sold788,500Depreciation expense omitted by accident in 201648,500Selling expenses65,900Casualty loss51,800Administrative expenses52,000Cash dividends declared42,890Dividend revenue22,100Retained earnings at December 31, 2016926,130Interest revenue8,060Effective tax rate of34% on all items

a multiple-step income statement for 2017. Assume that58,890shares of common stock are outstanding