PROBLEMS pa-1 (Multiple-Step Income, Retained Earnings) Presented below is information related to Dickinson Company for 2012. 980,000 Retained earnings balance, January 1, 2012 25,000,000 Sales revenue 16,000,000 Cost of goods sold 70,000 Interest revenue 4,700,000 Selling and administrative expenses 820,000 Write-off of goodwill 1,244,000 Income taxes for 2012 (normal recurring) Gain on the sale of investments (net of tax item Loss due to flood division (net of tax) Loss on the disposition of the wholesale tax Loss on operations of the wholesale division (net of 110,000 390,000 440,000 90,000 250,000 Dividends declared on common stock 80,000 Dividends declared on preferred stock