The following information is related to Bonita Company for 2020.

Retained earnings balance, January 1, 2020		$1,038,800
Sales Revenue		26,500,000
Cost of goods sold		16,960,000
Interest revenue		74,200
Selling and administrative expenses		4,982,000
Write-off of goodwill		869,200
Income taxes for 2020		1,318,640
Gain on the sale of investments		116,600
Loss due to flood damage		413,400
Loss on the disposition of the wholesale division (net of tax)		466,400
Loss on operations of the wholesale division (net of tax)		95,400
Dividends declared on common stock		265,000
Dividends declared on preferred stock		84,800

Bonita Company decided to discontinue its entire wholesale operations (considered a discontinued operation) and to retain its manufacturing operations. On September 15, Bonita sold the wholesale operations to Rogers Company. During 2020, there were 500,000 shares of common stock outstanding all year.

Prepare a multiple-step income statement.

BONITA COMPANY Income Statement For the Year Ended December 31, 2020 Sales Revenue $ 26,500,000 Cost of Goods Sold 16,960,000 Gross Profit/ (Loss) 9,540,000 Selling and Administrative Expenses 4,982,000 Income from Operations 4,558,000 Other Revenues and Gains Interest Revenue $ 74,200 Gain on the sale of Investments 116,600 869,200 Other Expenses and Losses 2 Other Expenses and Losses $ : $ Prepare a retained earnings statement. (List items that increase retained earnings first.) BONITA COMPANY Retained Earnings Statement $