Jackson Company had the following income statement amounts for the year ended December 31, 2007:
Sales $4,624,274
Cash dividends declared $ 58,986
Income tax expense 405,107
Interest income 23,088 S,G &A
expense 684,175
Cost of sales 2,958,708
Other expense 6,317
Retained earnings, 12/31/07 3,074,037
Royalty income 279,459
Royalty expense 111,586
Prepare a combined single-step income statement and retained earnings for the year ended December 31, 2007.