Income Statement and Earnings Per Share
Shown Below Is Information

Essay

Income statement and earnings per share
Shown below is information relating to operations of Broadway Industries for 2009:
$$\begin{array}{|l|l|}\hline\text { Contiruing operations: }\\\hline \text { Sales } & \$ 6,500,000 \\\hline \text { Cost ard experses (including income taxes) } & \$ 5,720,000 \\\hline \text { Other data: } & \\\hline\text { Current-year profit generated by seprnent of the business } \\\text { discontinued in May ( net of income taxes) }& \$ 542,100 \\\hline\text { Gain on disposal of discontirued segment (net of income } \\\text { taxes) }& \$ 185,900 \\\hline \text { Retrospective restatement (decrease in prior years } { } ^ { 2 } \text { profit net } \\\text { of tax benefit) }& \$ 347,100 \\\hline \text { Extraordirary loss (net of incorne tax benefit) } & \$ 325,000 \\\hline \text { Cash dividends declared (\$6per share) } & \$ 520,000 \\\hline & \\\hline\end{array}$$ In the space provided, complete the income statement for Broadway Industries, including earnings per share figures. Broadway Industries has 100,000 shares of a single class of ordinary share outstanding throughout the year.