The following information was taken from the records of Novak Inc. for the year 2017: Income tax applicable to income from continuing operations $187,884; income tax applicable to loss on discontinued operations $28,390, and unrealized holding gain on available-for-sale securities (net of tax) $16,400.

Gain on sale of equipment		$98,300		Cash dividends declared		$159,200
Loss on discontinued operations		83,500		Retained earnings January 1, 2017		572,300
Administrative expenses		247,700		Cost of goods sold		924,600
Rent revenue		47,300		Selling expenses		326,000
Loss on write-down of inventory		65,500		Sales Revenue		1,970,800

Shares outstanding during 2017 were 109,100.