The following information is related to Splish Company for 2020. Retained earnings balance, January 1, 2020 $1,332,800 Sales Revenue 34,000,000 Cost of goods sold 21,760,000 Interest revenue 95,200 Selling and administrative expenses 6,392,000 Write-off of goodwill 1,115,200 Income taxes for 2020 1,691,840 Gain on the sale of investments 149,600 Loss due to flood damage 530,400 Loss on the disposition of the wholesale division (net of tax) 598,400 Loss on operations of the wholesale division (net of tax) 122,400 Dividends declared on common stock 340,000 Dividends declared on preferred stock 108,800 Splish Company decided to discontinue its entire wholesale operations (considered a discontinued operation) and to retain its manufacturing operations. On September 15, Splish 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.