The following information was taken from the records of Swifty Inc. for the year 2022:

Gain from expropriation		$275,000		Cash dividends declared		$290,000
Loss from operation of discontinued Rochelle Division		345,000		Retained earnings, January 1, 2020		1,900,000
Administrative expenses		740,000		Cost of goods sold		2,800,000
Rent revenue		210,000		Selling expenses		990,000
Loss from flood damage		250,000		Sales revenue		5,800,000

The following additional information was also available: income tax applicable to income from continuing operations, $403,000; income tax recovery applicable to loss from operation of discontinued Rochelle Division, $69,000. The company has elected to adopt ASPE.