5. The following information is given for the Stout back Company which has two segments of operation. A distillery and a bottled water manufacturing unit. The bottled water manufacturing segment was discontinued after six months of operation. The assets of the nit were sold off to an outside buyer. The operating information of the company for the year ending June 30, 2022 is given to 1. [13] 2022 Net sales $780,000 Cost of goods sold 452,400 Administrative Expenses 27,600 Selling expenses 16,000 Income from operations of the discontinued segment 24,000 Loss on sale of the assets of the bottled water plant 8,000 The income tax rate is 40% The company had 40,000 shares of common stock outstanding with a par value of $2 per share. Required: Prepare an income statement in good form to determine the net income. Also, show the EPS for the year