The following information is related to NashCompany for 2020.

Retained earnings balance, January 1, 2020		$ 901,600
Sales Revenue		23,000,000
Cost of goods sold		14,720,000
Interest revenue		64,400
Selling and administrative expenses		4,324,000
Write-off of goodwill		754,400
Income taxes for 2020		1,144,480
Gain on the sale of investments		101,200
Loss due to flood damage		358,800
Loss on the disposition of the wholesale division (net of tax)		404,800
Loss on operations of the wholesale division (net of tax)		82,800
Dividends declared on common stock		230,000
Dividends declared on preferred stock		73,600

Nash Company decided to discontinue its entire wholesale operations (considered a discontinued operation) and to retain its manufacturing operations. On September 15, Nash sold the wholesale operations to Rogers Company. During 2020, there were 500,000 shares of common stock outstanding all year.

NASH COMPANY Retained Earnings Statem Divi $ Less : Divi Less Revi TA Tota $ NASH COMPANY ined Earnings Statement $ $