The following information was taken from the records of Kingbird Inc. for the year 2025: Income tax applicable to income from continuing operations $224,400, income tax applicable to loss on discontinued operations $30,600, and unrealized holding gain on available-for-sale debt securities (net of tax) $18,000. Gain on sale of equipment $114,000 Cash dividends declared $180,000 Loss on discontinued operations 90,000 Retained earnings January 1, 2025 2,880,000 Administrative expenses 288,000 Cost of goods sold 1,020,000 Rent revenue 48,000 Selling expenses 360,000 Loss on write-down of inventory 72,000 Sales revenue 2,280,000 Shares outstanding during 2025 were 100,000.