The following information is related to Kingbird Company for 2017.

Retained earnings balance, January 1, 2017		$981,000
Sales Revenue		26,100,000
Cost of goods sold		16,100,000
Interest revenue		71,000
Selling and administrative expenses		4,710,000
Write-off of goodwill		821,000
Income taxes for 2017		1,254,000
Gain on the sale of investments		111,000
Loss due to flood damage		391,000
Loss on the disposition of the wholesale division (net of tax)		441,000
Loss on operations of the wholesale division (net of tax)		91,000
Dividends declared on common stock		251,000
Dividends declared on preferred stock		81,000

Kingbird Company decided to discontinue its entire wholesale operations (considered a discontinued operation) and to retain its manufacturing operations. On September 15, Kingbird sold the wholesale operations to Rogers Company. During 2017, there were 490,000 shares of common stock outstanding all year.

un contestarente For the Year Ended December 31, 2017 Sales Revenue $ 26100000 Cost of Goods Sold 16100000 Gross Profit/(Loss) 10000000 Selling and Administrative Expenses 4710000 Income from Operations 5290060 Other Revenues and Gains Interest Revenue $ 71000 Gain on the sale of Investments 111000 182000 Other Expenses and Losses Write-off of Goodwill B21000 Income from Continuing Operations Before come Tax 4651000 Income Tax 1254000 Income from Operations 3397000 Discontinued Operations Loss on Operations. Net of Tax 91000 Ini Loss on Disposal. Net of Tax 441000 532000 CA 2474000 : w $ E