BACK Problem 4-1 (Part Level Submission) The following information is related to Vaughn Company for 2017. Retained earnings balance, January 1, 2017 Sales Revenue Cost of goods sold Interest revenue Selling and administrative expenses Write-off of goodwill Income taxes for 2017 Gain on the sale of investments Loss due to hood damage Loss on the disposition of the wholesale division (net of tax) Loss on operations of the wholesale division (net of tax) Dividends declared on common stock Dividends declared on preferred stock $989,080 26,212,500 16,197,500 78,100 4,797,900 826,200 1,388,700 118,000 392,500 447,800 85,280 265,200 78,940 Vaughn Company decided to discontinue its entire wholesale operations (considered a discontinued operation) and to retain its manufacturing operations. On September 15, Vaughn sold the wholesale operations to Rogers Company. During 2017, there were 529,500 shares of common stock outstanding all year. (ai) Your answer is partially correct. Try again. Prepare a multiple-step income statement. (Round earnings per share to 2 decimal places, e.g. 1.49.) VAUGHN COMPANY Income Statement For the Year Ended December 31, 2017 2 T Sales Revenue 26212500 Show All MacBook Pro c a Search or type URL * LUS s kies, Intermediate Accounting. 16th E Help System Announcements e Card for Bronx Community College AC NEXT Cost of Goods Sold T 16197500 Gross Profit/ (Loss) 10015000 Selling and Administrative Expenses 4797900 Income from Operations 5217100 Other Revenues and Gains Interest Revenue SE 78100 Gain on the sale of Investments 118000 196100 Other Expenses and Losses Write-off of Goodwil 826200 447800 533080 Income from Continuing Operations Before Income Tax : 2665220 Loss on Disposal, Net of Tax 392500 Gross Profit/(Loss) TEK2272720 pdf Show All MacBook Pro C Q Search or type URL NEXT 0.85 0.74 Loss from Plood Damage Net Income (LS) Shox MacBook Pro Q Search or type URL