The following information is related to Waterway Company for 2025. Retained earnings balance, January 1, 2025 Sales revenue Cost of goods sold Interest revenue Selling and administrative expenses Write-off of goodwill Income taxes for 2025 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 $1,234,800 31,500,000 20,160,000 88,200 5,922,000 1,033,200 1,567,440 138,600 491,400 554,400 113,400 315,000 100,800 Waterway Company decided to discontinue its entire wholesale operations (considered a discontinued operation) and to retain its manufacturing operations. On September 15, Waterway sold the wholesale operations to Rogers Company. During 2025, there were 500,000 shares of common stock outstanding all year.