Presented below is information related to inson Company for 2012.

Retained earnings balance, January 1, 2012 $985,700
Sales Revenue 26,205,000
Cost of goods sold 16,194,000
Interest revenue 71,400
Selling and administrative expenses 4,712,000
Write-off of goodwill 836,200
Income taxes for 2012 1,294,000
Gain on the sale of investments (normal recurring) 116,700
Loss due to flood damage—extraordinary item (net of tax) 394,700
Loss on the disposition of the wholesale division (net of tax) 453,400
Loss on operations of the wholesale division (net of tax) 92,700
Dividends declared on common stock 254,400
Dividends declared on preferred stock 84,400



Prepare a multiple-step income statement. Inson Company decided to discontinue its entire wholesale operations and to retain its manufacturing operations. On September 15, inson sold the wholesale operations to Rogers Company. During 2012, there were 499,500 shares of common stock outstanding all year. (Round earnings per share to 2 decimal places, e.g. $1.48.)

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