The following information is related to Skysong Company for 2020.

Retained earnings balance, January 1, 2020		$1,372,000
Sales Revenue		35,000,000
Cost of goods sold		22,400,000
Interest revenue		98,000
Selling and administrative expenses		6,580,000
Write-off of goodwill		1,148,000
Income taxes for 2020		1,741,600
Gain on the sale of investments		154,000
Loss due to flood damage		546,000
Loss on the disposition of the wholesale division (net of tax)		616,000
Loss on operations of the wholesale division (net of tax)		126,000
Dividends declared on common stock		350,000
Dividends declared on preferred stock		112,000

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

Prepare a multi step income statement: