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*Problem 4-1 The following information is related to Carla 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 flood 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 $997,070 26,104,600 16,185,500 78,500 4,733,500 825,900 1,405,900 116,600 397,200 450,100 84,660 263,100 77,650 Carla Company decided to discontinue its entire wholesale operations (considered a discontinued operation) and to retain its manufacturing operations. On September 15, Carla sold the wholesale operations to Rogers Company. During 2017, there were 481,300 shares of common stock outstanding all year Prepare a multiple-step income statement. (Round earnings per share to 2 decimal places, e.g. 1.49.) CARLA COMPANY ales Revenue in on the Sale of Inv ss Profit/(Loss) Selling and Administrati Selling and Administrati Income from Operations Other Revenues and Ga Interest Revenue Gain on the Sale of Inve Other Expenses and Los Write-off of Goodwill Income Tax Loss on Disposal, Net of Loss on Operations, Net 9,31,960 2216 Net Income/ (Loss) Prepare a retained earnings statement. (List items that increase retained earnings first.) CARLA COMPANY Retained Earnings Statement Retained Earnings, Janu Add Net Income/(Loss) 997070 22,16,940 3214010 Less Dividends Comr 263100 Dividends Prefe 77650 340750 Retained Earnings, Dece 28,73,260