Chapter $4$

The following are partial income statement account balances taken from the December $31,2021,$ year$-$end trial balance of White and Sons, Inc.: restructuring costs, $$430,000$; interest revenue, $$53,000,$ before$-$tax loss on discontinued operations, $$530,000$; and loss on sale of investments, $$63,000.$ Income tax expense has not yet been recorded. The income tax rate is $25\%.$

Prepare the lower portion of the $2021$ income statement beginning with $$865,000$ income from continuing operations before income taxes. Include appropriate EPS disclosures. The company had $150,000$ 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.$)$

$\backslash$table$[[$WHITE AND SONS, INC.,$],[$Partial Income Statement,$],[$For the Year Ended December $31,2021,],[$Income from continuing operations before income taxes,$865,000],[$Income tax expense,$(216,250)$