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

Net sales		$1,950,000
Cost of goods sold		1,200,000
Selling expenses		95,000
Administrative expenses		70,000
Dividend revenue		30,000
Interest revenue		20,000
Interest expense		45,000
Write-off of goodwill due to impairment		75,000
Depreciation expense omitted in 2015		105,000
Dividends declared		120,000
Effect on prior years of change in accounting principle (credit)		220,000
Loss from operations of discontinued component of business		240,000
Gain from disposal of component of business		300,000
Federal tax rate of 30% on all items

Prepare a multiple-step income statement for 2017. Assume the 200,000 shares of common stock were outstanding during 2017. (Round earnings per share to 2 decimal places, e.g. 5.25.)

INCOME STATEMENT For the Year Ended December 31, 2017 Net Sales to 1950000 Cost of Goods Sold (1200000) Gross Profit 750000 Operating Expenses Selling Expenses (95000) Administrative Expenses (70000) Other Revenues and Gains 585000 Dividend Revenue 30000 Interest Reven 20000 635000 Other Expenses and Losses 45000 Loss Due to WRITE HOEG Goch 75000 Income Before Incene Tour -515000 INCOME STATEMENT For the Year Ended December 31, 2017 Net Sales to 1950000 Cost of Goods Sold (1200000) Gross Profit 750000 Operating Expenses Selling Expenses (95000) Administrative Expenses (70000) Other Revenues and Gains 585000 Dividend Revenue 30000 Interest Reven 20000 635000 Other Expenses and Losses 45000 Loss Due to WRITE HOEG Goch 75000 Income Before Incene Tour -515000 Income berce Income Tax 1515000 Discontinued Operations Loss from Operations of Discontinued Component of Business V (168000) Gain from Disposal of Component of Business 210000 42000 Net Income /(Loss) 40.2500 Per share of common stock: Income from Continuinosations 1.8 Discontinued Operations 21 Earnings Per Cameron Share 2.01 e Textbook and Media