The following information is related to Tamarisk Company for 2017. Retained earnings balance, January 1, 2017 $984,500 Sales Revenue 26,150,000 Cost of goods sold 16,130,000 Interest revenue 78,400 Selling and administrative expenses 4,772,000 Write-off of goodwill 831,500 Income taxes for 2017 1,279,000 Gain on the sale of investments 114,400 Loss due to flood damage 400,100 Loss on the disposition of the wholesale division (net of tax) 444,000 Loss on operations of the wholesale division (net of tax) 93,000 Dividends declared on common stock 253,000 Dividends declared on preferred stock 82,900 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 490,400 shares of common stock outstanding all year. (a1) Prepare a multiple-step income statement. (Round earnings per share to 2 decimal places, e.g. 1.49.) TAMARISK COMPANY Income Statement For the Year Ended December 31, 2017 Sales Revenue Cost of Goods Sold Gross Profit/(Loss) Selling and Administrative Expenses Income from Operations Other Revenues and Gains Interest Revenue 78400 26150000 16130000 10.020,000 4772000 5248000 Interest Revenue Gain on the Sale of Investments Other Expenses and Losses Write-off of Goodwill Loss from Flood Damage Income from Continuing Operations Before Income Tax Income Tax Income from Continuing Operations 78400 114400 831500 400100 192800 1231600 Income from Continuing Operations Discontinued Operations Loss on Disposal, Net of Tax Loss on Operations, Net of Tax Net Income/(Loss) Earnings Per Share Income from Continuing Operations Discontinued Operations Income from Continuing Operations Discontinued Operations Loss on Operations, Net of Tax Write-off of Goodwill Net Income/(Loss) 99