The following information was taken from the records of Blue Inc. for the year 2020: Income tax applicable to income from continuing operations $228,140; income tax applicable to loss on discontinued operations $31,110, and unrealized holding gain on available for sale securities (net of tax) $18,300. Gain on sale of equipment Loss on discontinued operations Administrative expenses Rent revenue Loss on write-down of inventory $115,900 91,500 292,800 48,800 73.200 Cash dividends declared Retained earnings January 1, 2020 Cost of goods sold Selling expenses Sales Revenue $183,000 3,000,000 1,037,000 366,000 2,318,000 Shares outstanding during 2020 were 100.000 BLUE INC. Income Statement For the Year Ended December 31, 2020 Revenues Sales Revenue 2318000 Rent Revenue 48800 Total Revenues 2366800 Expenses Cost of Goods Sold 1037000 Selling Expenses 366000 Administrative Expenses 292800 Total Expenses -1695800 Income From Continuing Operations Net Income /(Loss) Income Tax ex Net Income /(Loss)