2 Income Statement and Earnings per Share for Discontinued Operations Apex Inc. reports the following for a recent year: Income from continuing operations before Income tax expense $1,000,000 Loss from discontinued operations $240,000 Weighted average number of shares outstanding 20,000 Applicable tax rate ic 40% *Net of any tax effect a. Prepare a partial income statement for Apex Inc., beginning with income from continuing operations before income tax expense. Apex Inc. Partial Income Statement For the Year Ended December 31 Income from continuing operations before income tax expense Income tax expense Income from continuing operations DODOC Loss on discontinued operations Net income b. Determine the earnings per common share for Apex Inc., including per-share amounts for unusual items. Apex Inc. Partial Income Statement For the Year Ended December 31 Earnings per common share: Income from continuing operations Loss from discontinued operations