The following information is related to Crane 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 $882,000 22,500,000 14,400,000 63,000 4,230,000 738,000 1,119,600 99,000 351,000 396,000 81,000 225,000 72,000 Crane Company decided to discontinue its entire wholesale operations (considered a discontinued operation) and to retain its manufacturing operations. On September 15, Crane sold the wholesale operations to Rogers Company. During 2020, there were 500,000 shares of common stock outstanding all year. Income Statement For the Year Ended December 31, 2020 Sales Revenue $ 22,500,000 Cost of Goods Sold 14,400,000 Gross Profit/(Loss) Selling and Administrative Expenses Income from Operations Other Revenues and Gains Interest Revenue Gain on the sale of Investments Other Expenses and Losses Write-off of Goodwill Income from Continuing Operations Before Income Tax Income Tax Income from Continuing Operations Discontinued Operations Loss on Disposal, Net of Applicable Tax Loss on Operations, Net of Applicable Tax Income from Operations $ $ Loss from Flood Damage Net Income /(Loss) $