Tent Attempt in Progress The following information is related to Sunland Company for 2020. Retained earnings balance, January 1, 2020 Sales Revenue Cost of goods sold Interest revenue Selling and administrative expenses Write-off of goodwill Income taxes for 2020 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 $1,117,200 28,500,000 18,240,000 79,800 5,358,000 934.800 1,418,160 125,400 444,600 501,600 102,600 285,000 91,200 Sunland Company decided to discontinue its entire wholesale operations (considered a discontinued operation) and to retain its manufacturing operations. On September 15, Sunland sold the wholesale operations to Rogers Company. During 2020, there were 500.000 shares of common stock outstanding all year. (a1) Prepare a multiple-step income statement. (Round earnings per share to 2 decimal places, e.g. 1.49.) SUNLAND COMPANY Income Statement