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The following information is related to Culver Company for 2017. Retained earnings balance, January 1, 2017 $993,500 Sales Revenue 26,295,800 Cost of goods sold 16,178,300

The following information is related to Culver Company for 2017.
Retained earnings balance, January 1, 2017 $993,500
Sales Revenue 26,295,800
Cost of goods sold 16,178,300
Interest revenue 77,200
Selling and administrative expenses 4,782,400
Write-off of goodwill 826,200
Income taxes for 2017 1,432,800
Gain on the sale of investments 118,300
Loss due to flood damage 391,200
Loss on the disposition of the wholesale division (net of tax) 454,100
Loss on operations of the wholesale division (net of tax) 94,950
Dividends declared on common stock 248,600
Dividends declared on preferred stock 82,060
Culver Company decided to discontinue its entire wholesale operations (considered a discontinued operation) and to retain its manufacturing operations. On September 15, Culver sold the wholesale operations to Rogers Company. During 2017, there were492,600shares of common stock outstanding all year.
Prepare a multiple-step income statement.(Round earnings per share to 2 decimal places, e.g. 1.48.)
CULVER COMPANY Income Statement December 31, 2017For the Year Ended December 31, 2017For the Quarter Ended December 31, 2017
Gain on the Sale of InvestmentsSelling and Administrative ExpensesSales RevenueLoss from Flood DamageInterest RevenueWrite-off of GoodwillCost of Goods SoldIncome TaxLoss on Operations, Net of TaxLoss on Disposal, Net of Tax $
Income TaxWrite-off of GoodwillCost of Goods SoldLoss on Operations, Net of TaxLoss on Disposal, Net of TaxSelling and Administrative ExpensesInterest RevenueLoss from Flood DamageSales RevenueGain on the Sale of Investments
Gross Profit / (Loss)Earnings Per ShareOther Expenses and LossesIncome from OperationsNet Income / (Loss)Other Revenues and GainsIncome from Continuing OperationsDiscontinued OperationsIncome from Continuing Operations Before Income Tax
Cost of Goods SoldSales RevenueWrite-off of GoodwillLoss on Operations, Net of TaxSelling and Administrative ExpensesIncome TaxInterest RevenueLoss from Flood DamageGain on the Sale of InvestmentsLoss on Disposal, Net of Tax
Income from Continuing Operations Before Income TaxIncome from OperationsDiscontinued OperationsOther Revenues and GainsOther Expenses and LossesIncome from Continuing OperationsNet Income / (Loss)Earnings Per ShareGross Profit / (Loss)
Income from OperationsOther Revenues and GainsIncome from Continuing Operations Before Income TaxIncome from Continuing OperationsGross Profit / (Loss)ExpensesDiscontinued OperationsNet Income / (Loss)Earnings Per Share
Sales RevenueLoss on Disposal, Net of TaxInterest RevenueLoss from Flood DamageCost of Goods SoldWrite-off of GoodwillSelling and Administrative ExpensesIncome TaxGain on the Sale of InvestmentsLoss on Operations, Net of Tax $
Write-off of GoodwillCost of Goods SoldSales RevenueLoss from Flood DamageLoss on Operations, Net of TaxInterest RevenueIncome TaxLoss on Disposal, Net of TaxSelling and Administrative ExpensesGain on the Sale of Investments
Discontinued OperationsIncome from OperationsIncome from Continuing OperationsExpensesEarnings Per ShareOther Expenses and LossesNet Income / (Loss)Gross Profit / (Loss)Income from Continuing Operations Before Income Tax
Selling and Administrative ExpensesWrite-off of GoodwillGain on the Sale of InvestmentsIncome TaxSales RevenueCost of Goods SoldLoss from Flood DamageInterest RevenueLoss on Operations, Net of TaxLoss on Disposal, Net of Tax
Loss on Operations, Net of TaxIncome TaxSales RevenueInterest RevenueGain on the Sale of InvestmentsWrite-off of GoodwillLoss on Disposal, Net of TaxCost of Goods SoldLoss from Flood DamageSelling and Administrative Expenses
Other Revenues and GainsOther Expenses and LossesIncome from Continuing Operations Before Income TaxEarnings Per ShareGross Profit / (Loss)Discontinued OperationsIncome from Continuing OperationsIncome from OperationsNet Income / (Loss)
Selling and Administrative ExpensesLoss from Flood DamageWrite-off of GoodwillIncome TaxSales RevenueLoss on Operations, Net of TaxLoss on Disposal, Net of TaxCost of Goods SoldGain on the Sale of InvestmentsInterest Revenue
Income from Continuing Operations Before Income TaxIncome from Continuing OperationsOther Revenues and GainsOther Expenses and LossesEarnings Per ShareDiscontinued OperationsNet Income / (Loss)Income from OperationsGross Profit / (Loss)
Net Income / (Loss)Gross Profit / (Loss)Discontinued OperationsIncome from Continuing Operations Before Income TaxEarnings Per ShareIncome from OperationsOther Revenues and GainsOther Expenses and LossesIncome from Continuing Operations
Income TaxSales RevenueLoss from Flood DamageLoss on Operations, Net of TaxLoss on Disposal, Net of TaxCost of Goods SoldSelling and Administrative ExpensesInterest RevenueGain on the Sale of InvestmentsWrite-off of Goodwill
Selling and Administrative ExpensesSales RevenueCost of Goods SoldInterest RevenueGain on the Sale of InvestmentsIncome TaxWrite-off of GoodwillLoss on Operations, Net of TaxLoss on Disposal, Net of TaxLoss from Flood Damage
Earnings Per ShareDiscontinued OperationsNet Income / (Loss)Other Revenues and GainsGross Profit / (Loss)Income from OperationsOther Expenses and LossesIncome from Continuing Operations Before Income TaxIncome from Continuing Operations $
Earnings Per ShareIncome from Continuing Operations Before Income TaxDiscontinued OperationsNet Income / (Loss)Income from OperationsGross Profit / (Loss)Other Revenues and GainsIncome from Continuing OperationsOther Expenses and Losses:
Earnings Per ShareIncome from OperationsIncome from Continuing Operations Before Income TaxNet Income / (Loss)Gross Profit / (Loss)Other Revenues and GainsOther Expenses and LossesIncome from Continuing OperationsDiscontinued Operations $
Income from Continuing OperationsIncome from Continuing Operations Before Income TaxNet Income / (Loss)Earnings Per ShareGross Profit / (Loss)Discontinued OperationsIncome from OperationsOther Revenues and GainsOther Expenses and Losses
Cost of Goods SoldSelling and Administrative ExpensesSales RevenueInterest RevenueLoss on Disposal, Net of TaxGain on the Sale of InvestmentsLoss from Flood DamageWrite-off of GoodwillIncome TaxLoss on Operations, Net of Tax $
Loss from Flood DamageSales RevenueGain on the Sale of InvestmentsWrite-off of GoodwillLoss on Disposal, Net of TaxCost of Goods SoldSelling and Administrative ExpensesInterest RevenueLoss on Operations, Net of TaxIncome Tax
Income from Continuing OperationsGross Profit / (Loss)Income from OperationsOther Revenues and GainsOther Expenses and LossesIncome from Continuing Operations Before Income TaxDiscontinued OperationsNet Income / (Loss)Earnings Per Share $
Prepare a retained earnings statement.(List items that increase retained earnings first.)
CULVER COMPANY Retained Earnings Statement December 31, 2017For the Year Ended December 31, 2017For the Quarter Ended December 31, 2017
DividendsCommon StockDividendsPreferred StockExpensesNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues $
AddLess: DividendsCommon StockDividendsPreferred StockExpensesNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues
AddLess:
DividendsCommon StockDividendsPreferred StockExpensesNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues $
DividendsCommon StockDividendsPreferred StockExpensesNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues
DividendsCommon StockDividendsPreferred StockExpensesNet Income / (Loss)Retained Earnings, January 1Retained Earnings, December 31RevenuesTotal ExpensesTotal Revenues

$

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