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The following information is related to Swifty Company for 2025. Retained earnings balance, January 1, 2025 Sales revenue $921,200 23,500,000 Cost of goods sold
The following information is related to Swifty Company for 2025. Retained earnings balance, January 1, 2025 Sales revenue $921,200 23,500,000 Cost of goods sold Interest revenue 15,040,000 65,800 Selling and administrative expenses 4,418,000 Write-off of goodwill 770,800 Income taxes for 2025 1.169.360 Gain on the sale of investments 103,400 Loss due to flood damage 366,600 Loss on the disposition of the wholesale division (net of tax) 413,600 Loss on operations of the wholesale division (net of tax) 84.600 Dividends declared on common stock 235,000 Dividends declared on preferred stock 75.200 Swifty Company decided to discontinue its entire wholesale operations (considered a discontinued operation) and to retain its manufacturing operations. On September 15, Swifty sold the wholesale operations to Rogers Company During 2025, there were 500,000 shares of common stock outstanding all year. (1) Prepare a multiple-step income statement. (Round earnings per share to 2 decimal places, es. 1.49. List other revenues and gains before other Expenses and losses.) SWIFTY COMPANY Income Statement For the Year Ended December 31, 2025
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