The following information is available for Skysong Inc. for the year ended December 31, 2017: Loss on discontinued operations $82,000 Retained earnings January 1, 2017 $1,360,000 Rent revenue 91,000 Selling expenses 861,000 Income tax applicable to continuing Income tax applicable to loss on discontinued 295,000 23,000 operations operations Administrative expenses 520,000 Cost of goods sold Loss on write-down of inventory 44,000 Sales revenue Gain on sale of equipment 32,000 Cash dividends declared 1,640,000 3,730,000 214,000 Unrealized gain on available-for-sale securities 31,000 Interest expense 61,000 200,000 shares were outstanding during all of 2017.