(Answered) The following information was taken from the records of

Accounting

The following information was taken from the records of Monty Inc. for the year 2017: Income tax applicable to income from continuing operations $169,626; income tax applicable to loss on discontinued operations $26,418, and unrealized holding gain on available-for-sale securities (net of tax) $22,500.

Gain on sale of equipment	$98,400	Cash dividends declared	$140,400
Loss on discontinued operations	77,700	Retained earnings January 1, 2017	588,700
Administrative expenses	246,800	Cost of goods sold	889,600
Rent revenue	48,900	Selling expenses	315,100
Loss on write-down of inventory	70,100	Sales Revenue	1,873,200

Shares outstanding during 2017 were 99,100.

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