The following information is related to Marigold Company for 2025. Retained earnings balance, January 1, 2025 $940,800 Sales revenue 24,000,000 Cost of goods sold 15,360,000 Interest revenue 67,200 Selling and administrative expenses 4,512,000 Write-off of goodwill 787,200 Income taxes for 2025 1,194,240 Gain on the sale of investments 105,600 Loss due to flood damage 374,400 Loss on the disposition of the wholesale division (net of tax) 422,400 Loss on operations of the wholesale division (net of tax) 86,400 Dividends declared on common stock 240,000 Dividends declared on preferred stock 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 2025, there were 500,000 shares of common stock outstanding all year. EA MARIGOLD COMPANY Income Statement