The following information is related to Metlock Company for 2017.

Retained earnings balance, January 1, 2017		$995,620
Sales Revenue		26,218,400
Cost of goods sold		16,297,500
Interest revenue		79,000
Selling and administrative expenses		4,790,100
Write-off of goodwill		824,100
Income taxes for 2017		1,325,100
Gain on the sale of investments		114,500
Loss due to flood damage		394,400
Loss on the disposition of the wholesale division (net of tax)		443,000
Loss on operations of the wholesale division (net of tax)		87,620
Dividends declared on common stock		269,600
Dividends declared on preferred stock		72,890

Metlock Company decided to discontinue its entire wholesale operations (considered a discontinued operation) and to retain its manufacturing operations. On September 15, Metlock sold the wholesale operations to Rogers Company. During 2017, there were 479,700 shares of common stock outstanding all year.

a)Prepare a multiple-step income statement. (Round earnings per share to 2 decimal places, e.g. 1.49.) b)Prepare a retained earnings statement. (List items that increase retained earnings first.)