The following information is related to Kingbird Company for 2025. Retained earnings balance, January 1, 2025 $1,274,000 Sales revenue 32,500,000 Cost of goods sold 20,800,000 Interest revenue 91,000 Selling and administrative expenses 6,110,000 Write-off of goodwill 1,066,000 Income taxes for 2025 1,617,200 Gain on the sale of investments 143,000 Loss due to flood damage 507,000 Loss on the disposition of the wholesale division (net of tax) 572,000 Loss on operations of the wholesale division (net of tax) 117,000 Dividends declared on common stock 325,000 Dividends declared on preferred stock 104,000 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 2025, there were 500,000 shares of common stock outstanding all year. Sales Revenue Cost of Goods Sold Gross Profit/(Loss) Selling and Administrative Expenses Income from Operations Other Revenues and Gains Interest Revenue Gain on the Sale of Investments KINGBIRD COMPANY Income Statement For the Year Ended December 31, 2025 +A $