The following information is related to Kingbird Company for 2017. Retained earnings balance, January 1, 2017 Sales Revenue Cost of goods sold Interest revenue Selling and administrative expenses Write-off of goodwill Income taxes for 2017 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 $997,070 26,104,600 16,185,500 78,500 4,733,500 825,900 1,405,900 116,600 397,200 450,100 84,660 263,100 77,650 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 481,300 shares of common stock outstanding all year