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The following information is available for Zaneb Co. for the year ended December 31, 2017: Loss on discontinued operations $79,000 Retained earnings January 1, 2017

The following information is available for Zaneb Co. for the year ended December 31, 2017:

Loss on discontinued operations $79,000 Retained earnings January 1, 2017 $1,480,000
Rent revenue 86,000 Selling expenses 872,000
Income tax applicable to continuing operations 302,000 Income tax applicable to loss on discontinued operations 30,000
Administrative expenses 519,000 Cost of goods sold 1,648,000
Loss on write-down of inventory 43,000 Sales revenue 3,720,000
Gain on sale of equipment 40,000 Cash dividends declared 228,000
Unrealized gain on available-for-sale securities 25,000 Interest expense 57,000

200,000 shares were outstanding during all of 2017.

Prepare a multiple-step income statement. (Round earnings per share to 2 decimal places, e.g. 1.45.)

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