Presented below is information related to Ivan Calderon Corp. for the year 2014.

Net sales		$1,349,000		Write-off of inventory due to obsolescence		$81,700
Cost of goods sold		782,000		Depreciation expense omitted by accident in 2013		47,700
Selling expenses		71,800		Casualty loss (extraordinary item) before taxes		57,700
Administrative expenses		49,800		Cash dividends declared		50,900
Dividend revenue		28,400		Retained earnings at December 31, 2013		980,000
Interest revenue		7,500		Effective tax rate of 34% on all items. Prepare a multiple-step income statement for 2014. Assume that 60,000 shares of common stock are outstanding.