The following information is available for Teal Mountain Inc. for the year ended December 31, 2017: Loss on discontinued operations $76,000 Retained earnings January 1, 2017 $1,400,000 Rent revenue 97,000 Selling expenses 875,000 Income tax applicable to continuing operations 303,000 Income tax applicable to loss on discontinued operations 28,000 Administrative expenses 513,000 Cost of goods sold 1,632,000 Loss on write-down of inventory 42,000 Sales revenue 3,805,000 Gain on sale of equipment 35,000 Cash dividends declared 221,000 Unrealized gain on available-for-sale securities 30,000 Interest expense 58,000 200,000 shares were outstanding during all of 2017. Income Statement For the Year Ended December 31, 2017 : Sales Revenue Other Revenues and Gains Operating Expenses Administrative Expenses Selling Expenses Income from Continuing Operations Before Income Tax Income from Continuing Operations Loss from Flood Damage - Income Tax Per share of common stock: Income from Continuing Operations Net Income /(Loss) The following information is available for Teal Mountain Inc. for the year ended December 31, 2017: Loss on discontinued operations $76,000 Retained earnings January 1, 2017 $1,400,000 Rent revenue 97,000 Selling expenses 875,000 Income tax applicable to continuing operations 303,000 Income tax applicable to loss on discontinued operations 28,000 Administrative expenses 513,000 Cost of goods sold 1,632,000 Loss on write-down of inventory 42,000 Sales revenue 3,805,000 Gain on sale of equipment 35,000 Cash dividends declared 221,000 Unrealized gain on available-for-sale securities 30,000 Interest expense 58,000 200,000 shares were outstanding during all of 2017. Income Statement For the Year Ended December 31, 2017 : Sales Revenue Other Revenues and Gains Operating Expenses Administrative Expenses Selling Expenses Income from Continuing Operations Before Income Tax Income from Continuing Operations Loss from Flood Damage - Income Tax Per share of common stock: Income from Continuing Operations Net Income /(Loss)