The following information is related to Larkspur Company for 2017.

Retained earnings balance, January 1, 2017		$991,080
Sales Revenue		26,214,100
Cost of goods sold		16,207,700
Interest revenue		80,000
Selling and administrative expenses		4,765,100
Write-off of goodwill		830,500
Income taxes for 2017		1,377,200
Gain on the sale of investments		115,000
Loss due to flood damage		400,200
Loss on the disposition of the wholesale division (net of tax)		453,800
Loss on operations of the wholesale division (net of tax)		98,050
Dividends declared on common stock		239,200
Dividends declared on preferred stock		77,390

Larkspur Company decided to discontinue its entire wholesale operations (considered a discontinued operation) and to retain its manufacturing operations. On September 15, Larkspur sold the wholesale operations to Rogers Company. During 2017, there were 467,600 shares of common stock outstanding all year.

1. Prepare a multiple-step income statement. (Round earnings per share to 2 decimal places, e.g. 1.49.)

2. Prepare a retained earnings statement.