The following information is related to Tamarisk Company for 2017.

Retained earnings balance, January 1, 2017		$997,920
Sales Revenue		26,276,500
Cost of goods sold		16,204,700
Interest revenue		80,500
Selling and administrative expenses		4,747,500
Write-off of goodwill		826,300
Income taxes for 2017		1,345,000
Gain on the sale of investments		117,800
Loss due to flood damage		391,000
Loss on the disposition of the wholesale division (net of tax)		446,800
Loss on operations of the wholesale division (net of tax)		86,050
Dividends declared on common stock		227,100
Dividends declared on preferred stock		75,590

Tamarisk Company decided to discontinue its entire wholesale operations (considered a discontinued operation) and to retain its manufacturing operations. On September 15, Tamarisk sold the wholesale operations to Rogers Company. During 2017, there were 518,000 shares of common stock outstanding all year.

Please Prepare a Multi-Step Income Statement