The following information is related to Marigold Company for 2020. Retained earnings balance, January 1, 2020 Sales Revenue Cost of goods sold Interest revenue Selling and administrative expenses Write-off of goodwill Income taxes for 2020 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 $940.800 24,000,000 15,360,000 67.200 4,512.000 787.200 1,194.240 105,600 374.400 422.400 86.400 240,000 76.800 Marigold Company decided to discontinue its entire wholesale operations (considered a discontinued operation) and to retain its manufacturing operations. On September 15. Marigold sold the wholesale operations to Rogers Company. During 2020, there were 500,000 shares of common stock outstanding all year. Prepare a multiple-step income statement. (Round earnings per Share to 2 decimal places, eg. 1.49.) MARIGOLD COMPANY Income Statement For the Year Ended December 31, 2020 Sales Revenue 24,000,000 Cost of Goods Sold 15360000 8640000 Selling and Administrative Expenses 4512000 Income from Continuing Operations 4128000 Other Revenues and Gains Interest Revenue $ 67200 Gain on the sale of Investments 105600 172800 Other Expenses and Losses Write-off of Goodwill -787200 Loss from Flood Damage -374400 - 1161600 Income from Continuing Operations Before Income Tax + 3139200 Income Tax 1,194,240 Income from Continuing Operations 1944960 Discontinued Operations Loss on Operations, Net of Applicable Tax 86400 Loss on Disposal, Net of Applicable Tax 422400 508800 Net Income /(Loss) 1436160 Earnings Per Share Income from Continuing Operations 3.74 Discontinued Operations Loss on Disposal, Net of Applicable Tax Loss on Operations, Net of Applicable Tax + Net Income /(Loss) 2.73 Prepare a retained earnings statement. (List items that increase retained earnings first.) MARIGOLD COMPANY Retained Earnings Statement For the Year Ended December 31, 2020 - Retained Earnings, January 1 $