Crane Corporation Ltd. has the following capital structure at the following fiscal years ended December 31: 2020 2019 Number of common shares 840,000 690,000 Number of non-convertible, non-cumulative preferred A shares 30,000 30,000 Amount of 5% convertible bonds $1,000,000 $1,000,000 The following additional information is available. 1. On July 31, 2020, Crane Corporation exchanged common shares for a large piece of equipment. This was the only transaction that resulted in issuance of common shares in 2020. 2. Income before discontinued operations for 2020 was $1,700,000, and a loss from discontinued operations of $200,000 was recorded, net of applicable tax recovery. 3. During 2020, dividends in the amount of $4 per share were paid on the preferred A shares. 4. Each $1,000 bond can be converted into 25 common shares. 5. There were unexercised stock options, outstanding since 2017, that allow holders to purchase 20,000 common shares at $4.00 per share. 6. Written warrants to purchase 10,000 common shares at $15.00 per share were outstanding at the end of 2019, and no warrants were exercised in 2020. 7. The average market value of the common shares in 2020 was $13.00. 8. Crane's tax rate is 20%. 9. Crane declared and paid a $10,000 dividend to common shareholders on June 1, 2020. Starting with the heading "Income from Continuing Operations," prepare the bottom portion of the income statement for the year ended December 31, 2020. Assume that Crane Corporation discloses all applicable earnings per share data on the face of the income statement. (Round Earnings Per Share amounts to 2 decimal places, e.g. 15.25. Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Crane Corporation Partial Income Statement For the Year Ended December 31, 2020 Income from Continuing Operations $ 1,700,000 Loss from Discontinued Operations Net Income /(Loss) $ Basic earnings per share: Income from Continuing Operations $ Loss from Discontinued Operations Net Income /(Loss) $ Diluted earnings per share: Income from Continuing Operations Loss from Discontinued Operations Net Income /(Loss) V -200,000 1,500,000 2.10 (27) 1.83 000 2.34 (.37) 1.97