The following information was taken from the records of Concord Inc. for the year 2020: Income tax applicable to income from continuing operations $164,560; income tax applicable to loss on discontinued operations $22,440, and unrealized holding gain on available-for-sale securities (net of tax) $13,200.

Gain on sale of equipment		$83,600		Cash dividends declared		$132,000
Loss on discontinued operations		66,000		Retained earnings January 1, 2020		960,000
Administrative expenses		211,200		Cost of goods sold		748,000
Rent revenue		35,200		Selling expenses		264,000
Loss on write-down of inventory		52,800		Sales Revenue		1,672,000

Shares outstanding during 2020 were 100,000.

Question 3 of 3 - / 8 III Total Expenses . Income From Continuing Operations Discontinued Operations Income Tax + : Discontinued Operations Loss on Discontinued Operations Less Applicable Income Tax Reduction Net Income /(Loss) Question 3 of 3 - / 8 III Total Expenses . Income From Continuing Operations Discontinued Operations Income Tax + : Discontinued Operations Loss on Discontinued Operations Less Applicable Income Tax Reduction Net Income /(Loss) Question 3 of 3 - / 8 111 . Discontinued Operations Loss on Discontinued Operations + Less :: Applicable Income Tax Reduction + Net Income /(Loss) + Per Share of Common Slock Income From Continuing Operations + $ Loss on Discontinued Operations, Net of Tax Net Income /(Loss) + e Textbook and Media