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