Retained earnings balance, January 1, 2022 1,195,600 Sales revenue 30,500,000 Cost of goods sold 19,520,000 Interest expense 85,400 Selling and administrative expenses 5,734,000 Write-off of goodwill 1,000,400 Income taxes for 2022 1,517,680 Gain on the sale of investments 134,200 Loss due to flood damage 475,800 Loss on the disposition of the wholesale division (net of tax) 536,800 Loss on operations of the wholesale division (net of tax) 109,800 Dividends declared on ordinary shares 305,000 Dividends declared on preference shares 97,600 Sheffield decided to discontinue its entire wholesale operations and to retain its manufacturing operations. On September 15, Sheffield sold the wholesale operations to Rogers Company. During 2022, there were 500,000 ordinary shares outstanding all year. Prepare an income statement. (Round earnings per share to 2 decimal places, eg. 1.49.) SHEFFIELD AG Income Statement For the Year Ended December 31, 2022 Sales Cost of Goods Sold Gross Profit/(Loss) Selling and Administrative Expenses 30500000 19520000 10980000 5734000 22C Partly cloudy 40 Sales Cost of Goods Sold Gross Profit/(Loss) Selling and Administrative Expenses Other Income and Expenses Gain on the Sale of Investments V Loss due to Flood Damage Write-off of Goodwill 3 134200 -85400 -1000400 3050 19520 10980 57340 52460 Loss due to Flood Damage Write-off of Goodwill Income Before Income Tax Income Tax Net Income/(Loss) Discontinued Operations Loss on Operations, Net of Tax -85400 -1000400 -951600 4294400 1517680 Discontinued Operations Loss on Operations, Net of Tax Loss on Disposal, Net of Tax Net Income/(Loss) Earnings Per Share Income from Continuing Operations Discontinued Operations Locs on Onerations Net of Tav Net Income/(Loss) Earnings Per Share Income from Continuing Operations Discontinued Operations Loss on Operations, Net of Tax Loss on Disposal, Net of Tax Net Income/(Loss) 3