Problem 4-1 The following information is related to Bridgeport Company for 2017. Retained earnings balance, January 1, 2017 $985,470 26,100,500 Sales Revenue 16,248,000 Cost of goods sold Interest revenue 76,300 4,796,300 Selling and administrative expenses Write-off of goodwill 839,700 Income taxes for 2017 1,349,100 Gain on the sale of investments 115,500 Loss due to flood damage 398,800 Loss on the disposition of the wholesale division (net of tax 451,200 91,620 Loss on operations of the wholesale division (net of tax) Dividends declared on common stock 242,600 Dividends declared on preferred stock 85,750 Bridgeport Company decided to discontinue its entire wholesale operations (considered a discontinued operation and to retain its manufacturing operations. On September 15, Bridgeport sold the wholesale operations to Rogers Company. During 2017, there were 457,500 shares of common stock outstanding all year