Problem 4-1 (Part Level Submission) The following information is related to Tamarisk Company for 2017. Retained earnings balance, January 1, 2017 Sales Revenue Cost of goods sold Interest revenue Selling and administrative expenses Write-off of goodwill Income taxes for 2017 Gain on the sale of investments Loss due to flood damage Loss on the disposition of the wholesale division (net of tax) Loss on operations of the wholesale division (net of tax) Dividends declared on common stock Dividends declared on preferred stock $988,750 26,251,600 16,255,300 72,900 4,747,800 833,000 1,265,400 120,600 396,200 457,500 89,120 253,600 76,320 Tamarisk Company decided to discontinue its entire wholesale operations (considered a discontinued operation) and to retain operations to Rogers Company. During 2017, there were 492,600 shares of common stock outstanding all year. (al) | Your answer is partially correct. Try again. Prepare a multiple-step income statement. (Round earnings per share to 2 decimal places, e.g. 1.49.) TAMARISK COMPANY Income Statement For the Year Ended December 31, 2017 Sales Revenue 26251600 Cost of Goods Sold 16255300 Sales Revenue 26251600 Cost of Goods Sold 16255300 > Gross Profit/ (Loss) 9996300 [Selling and Administrative Expenses v 4747800 Income from Operations 5248500 Other Revenues and Gains 2 Interest Revenue 72900 Gain on the sale of Investments V 120600 193500 Other Expenses and Losses Write-off of Goodwill 833000 Loss from Flood Damage 396200 1229200 Income from Continuing Operations Before Income Tax 4212800 Income Tax 1265400 Income from Continuing Operations 2983600 Discontinued Operations Loss on Disposal, Net of Tax 457500 ere to search 2983600 Income from Continuing Operations > Discontinued Operations > Loss on Disposal, Net of Tax 457500 Loss on Operations, Net of Tax 89120 546620 Net Income / (Loss) 3666180 Other Expenses and Losses X Net Income / (Loss) 2400780 Discontinued Operations Loss on Disposal, Net of Tax 3343600 Loss on Operations, Net of Tax 492600 2400780 Net Income / (Loss) 492600 Show Work is REQUIRED for this question: Open Show Work SHOW LIST OF ACCOUNTS