The following information is related to Oriole Company for 2020.

Retained earnings balance, January 1, 2020		$1,254,400
Sales Revenue		32,000,000
Cost of goods sold		20,480,000
Interest revenue		89,600
Selling and administrative expenses		6,016,000
Write-off of goodwill		1,049,600
Income taxes for 2020		1,592,320
Gain on the sale of investments		140,800
Loss due to flood damage		499,200
Loss on the disposition of the wholesale division (net of tax)		563,200
Loss on operations of the wholesale division (net of tax)		115,200
Dividends declared on common stock		320,000
Dividends declared on preferred stock		102,400

Oriole Company decided to discontinue its entire wholesale operations (considered a discontinued operation) and to retain its manufacturing operations. On September 15, Oriole 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.

Prepare a multiple-step income statement. (Round earnings per share to 2 decimal places, e.g. 1.49.) ORIOLE COMPANY Income Statement For the Year Ended December 31, 2020 Sales Revenue 32000000 Cost of Goods Sold 20480000 otos - 3.PNG Gross Profit/ (Loss) 11520000 Selling and Administrative Expenses 6016000 See all photos + Add to Income from Operations 5504000 Other Revenues and Gains Interest Revenue 89600 Gain on the sale of Investments 140800 5273600 TOther Expenses and Losses Write-off of Goodwill 499200 500 499200 Loss from Flood Damage TEarnings Per Share 1318400 Income from Continuing Operations 2593280 Income from Continuing Operations Before Income Tax 4185600 Income Tax 1592320 Discontinued Operations Tincome from Continuing Operations 2593280 TLoss on Operations, Net of Applicable Tax 115200 Discontinued Operations X 563200 Loss on Disposal, Net of Applicable Tax Loss on Disposal, Net of Applicable Tax 563200 TLoss on Operations, Net of Applicable Tax 115200 1914880 448000 TNet Income /(Loss) 1914880 Net Income / (Loss) 2145280 Click if you would like to Show Work for this question: Open Show Work Earnings Per Share Income from Continuing Operations 2593280