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The following information is related to Pearl Company for 2017 Retained earnings balance, January 1, 2017 Sales Revenue Cost of goods sold Interest revenue Selling
The following information is related to Pearl Company for 2017 Retained earnings balance, January 1, 2017 Sales Revenue Cost of goods sold Interest revenue Selling and administrative expenses Write-off of goodwill Income taxes for 2017 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 $995,130 26,100,200 16,276,800 73,300 4,726,100 833,300 1,314,600 116,100 397,200 452,000 94,910 230,000 78,150 Pearl Company decided to discontinue its entire wholesale operations (considered a discontinued operation) and to retain its manufacturing operations. On September 15, Pearl sold the wholesale operations to Rogers Company. During 2017, there were 511,000 shares of common stock outstanding all year
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