The following information is related to Dickinson Company for 2014.

Retained earnings balance, January 1, 2014 $985,500 S

ales Revenue 26,251,000 

Cost of goods sold 16,170,000 

Interest revenue 77,300 

Selling and administrative expenses 4,766,000 

Write­off of goodwill 821,200 

Income taxes for 2014 1,313,000 

Gain on the sale of investments (normal recurring) 114,000 

Loss due to flood damage—extraordinary item (net of tax) 398,100

Loss on the disposition of the wholesale division (net of tax) 459,800

Loss on operations of the wholesale division (net of tax) 97,800 

Dividends declared on common stock 255,700 

Dividends declared on preferred stock 82,900

Dickinson Company decided to discontinue its entire wholesale operations and to retain its manufacturing operations. On September 15, Dickinson sold the wholesale operations to Rogers Company. During 2014, there were 496,000 shares of common stock outstanding all year.

*(1) Prepare a multiple-­step income statement.

*(2) The parts of this question must be completed in order. This part will be available when you complete the part above.