Apex Inc. reports the following for a recent year:

Income from continuing operations before income tax

$1,000,000

Extraordinary property loss from hurricane

$140,000*

Loss from discontinued operations

$240,000*

Weighted average number of shares outstanding

20,000

Applicable tax rate

40%

*Net of any tax effect

Labels and Amount Descriptions
Cost of merchandise sold
Discontinued operations
Extraordinary item
Gain due to hurricane
Gain on discontinued operations
Gross profit
Income before extraordinary item
Income from continuing operations
Income from continuing operations before income tax
Income tax expense
Loss due to hurricane
Loss on discontinued operations
Net income
Net loss
Retained earnings
Sales

A. Prepare a partial income statement for Apex Inc., beginning with income from continuing operations before income tax. Refer to the list of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Enter all amounts as positive numbers.

Apex Inc.

Partial Income Statement

For the Year Ended December 31, 20

1.) amount description	amount
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6.) label
7.) amount description	amount
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B. Calculate the earnings per common share for Apex Inc., including per-share amounts for unusual items. Refer to the list of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Enter all amounts as positive number.

Apex Inc.

Partial Income Statement

For the Year Ended December 31, 20

1.) Earnings Per Common Share:
2.) amount description	Amount
3.) amount description	Amount
4.) amount description	Amount
5.) label:
6.) amount description	Amount
7.) amount description	Amount

**	Refer to the list of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Enter all amounts as positive numbers.