m4: Homework Exercise Question 4 of 5 < > View Policies Current Attempt in Progress The following information is available for Skysong Inc. for the year ended December 31, 2017: Loss on discontinued operations -12 E $70,000 Retained earnings January 1, 2017 $1,500,000 Rent revenue 91,000 Selling expenses 878,000 Income tax applicable to continuing Income tax applicable to loss on discontinued 292,000 32.000 operations. operations Administrative expenses 504,000 Cost of goods sold 1,674,000 Loss on write-down of inventory 45,000 Sales revenue 3,725,000 Gain on sale of equipment 30,000 Cash dividends declared 218,000 Unrealized gain on available-for-sale 35,000 Interest expense 52,000 securities 200,000 shares were outstanding during all of 2017. (a) Prepare a multiple-step income statement. (Round earnings per share to 2 decimal places, eg. 1.45) Skysong Inc. Income Statement