The following information is related to Dickinson Company for 2020.

Retained earnings balance, January 1, 2014	800,000
Sales Revenue	17,320,500
Cost of goods sold	11,533,125
Interest expense	181,300
Selling expenses	1,857,000
Administrative expenses	2,433,500
Loss on write-down of inventory	850,000
Interest revenue	214,000
Income taxes for 2020	755,300
Gain on the sale of investments (normal recurring)	143,130
Loss on operations of the wholesale division (net of tax)	216,200
Loss on the disposition of the wholesale division (net of tax)	481,200
Dividends declared on preferred stock	94,800
Dividends declared on common stock	255,600

Dickinson Company decided to discontinue its entire wholesale operations and to retain its manufacturing operations. On September 15, Dickinson sold the wholesale operations to Rogers Company. During 2020, there were 250,000 shares of common stock outstanding all year.

Prepare a multiple-step income statement in good form. Do not calculate earnings per share information