The following are partial income statement account balances taken from the Decem

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The following are partial income statement account balances taken from the December 31, 2018, year-end trial balance of White and Sons, Inc.: restructuring costs, $380,000; interest revenue, $48,000; before-tax loss on discontinued operations, $480,000; and loss on sale of investments, $58,000. Income tax expense has not yet been recorded. The income tax rate is 40%. Prepare the lower portion of the 2018 income statement beginning with $890,000 income from continuing operations before income taxes. Include appropriate EPS disclosures. The company had 100,000 shares of common stock outstanding throughout the year (Amounts to be deducted should be indicated with a minus sign. Round "EPS" answers to 2 decimal places.) WHITE AND SONS, INC Partial Income Statement For the Year Ended December 31, 2018 ncome from continuing operations before income taxes Income from continuing operations Earnings per share: Income from continuing operations Loss on discontinued operatio

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Income from continuing operations before income taxes 890000 Less: Income Tax Expense (40%) -356000 Income from continuing Operations 534000 Loss on discontinue operations (480000-40% Tax Saving) -192000 Net Income 342000 Earning Per share: Income from continuing Operations 534000/100000 5.34 Loss on discontinue operations -192000/100000 -1.92 Net Income 342000/100000 3.42

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