use the data above to determine

a) gross profit

b) operating income

c) income from continuing operations before tax

d)income from continuing operations

e) net income

QUESTION 56 Retained earnings balance, January 1, 2018 $ 980,000 Sales revenue 25,000,000 Cost of goods sold 16,000,000 Interest revenue 70,000 Selling and administrative expenses 4,700,000 Write-off of goodwill 820,000 Income taxes for 2018 1,244,000 Gain on the sale of trading securities 110,000 Loss due to flood damage 390,000 Loss on sale of the wholesale division (net of tax) 440,000 Loss on discontinued operations of the wholesale division (net of tax) 90,000 Dividends declared on common stock 250,000 Dividends declared on preferred stock 80,000 Sumski Corp. decided to discontinue its entire wholesale operations and to retain its manufacturing operations. On September 15, Sumski sold the wholesale operations to Dehnz Company. During 2018, there were 500,000 shares of common stock outstanding all year