PRINTER VERSION BACK ND Problem 4-1 (Part Level Submission) The following information is related to Vaughn Company for 2017. Retained earnings balance, January 1, 2017 $989,080 Sales Revenue 26,212,500 Cost of goods sold 16,197,500 Interest revenue 78,100 Selling and administrative expenses 4,797,900 Write-off of goodwill 826,200 Income taxes for 2017 1,388,700 Gain on the sale of investments 118,000 Loss due to flood damage 392,500 Loss on the disposition of the wholesale division (net of tax) 447,800 Loss on operations of the wholesale division (net of tax) 85,280 Dividends declared on common stock 265.200 Dividends declared on preferred stock 78,940 Vaughn Company decided to discontinue its entire wholesale operations (considered a discontinued operation) and to retain its manufacturing operations. On September 15, Vaughn sold the wholesale operations to Rogers Company. During 2017, there were 529,500 shares of common stock outstanding all year. (al) Your answer is partially correct. Try again Prepare a multiple-step income statement. (Hound earnings per Share to 2 decimal places, e.g. 1.49.) VAUGHN COMPANY Income Statement For the Year Ended December 31, 2017 B Sales Revenue Free 1 Gross Pronto ) Seling and Administrative Expenses PRINTER VERSION BACK NEXT Income from Operations 5217100 Other Revenues and Gains Interest Revenue 1 78100 118000 Gain on the sale of Investments 196000 Discontinued Operations Loss on Operations, Net of Tax : Loss on Disposal, Net of Tax Income from Operations Gross Profit/ (Loss) Net Income (Loss) Search or type URL PRINTER VERSION BACK -1.01 0.74 Income Tax (0.74) 1 Loss from Flood Damage Net Income (Los) SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO TEXT LINK AVE Attemptsi 1 of 3 used (a2) The parts of this question must be completed in order. This part wW be available when you complete the part above