Culver Corporation is preparing the comparative financial statements for the annual report to its shareholders for fiscal years ended May 31, 2020, and May 31, 2021. The income from operations for the fiscal year ended May 31, 2020, was $1.729,000 and income from continuing operations for the fiscal year ended May 31, 2021, was $2,599.000. In both years, the company incurred a 11% interest expense on $2,366,000 of debt, an obligation that requires interest-only payments for 5 years. The company experienced a loss from discontinued operations of $594,000 on February 2021. The company uses a 20% effective tax rate for income taxes. The capital structure of Culver Corporation on June 1, 2019. consisted of 999,000 shares of common stock outstanding and 20,800 shares of S50 par value 6%, cumulative preferred stock. There were no preferred dividends in arrears, and the company had not issued any convertible securities, options, or warrants. On October 1, 2019. Culver sold an additional 512.000 shares of the common stock at $20 per share. Culver distributed a 20% stock dividend on the common shares outstanding on January 1, 2020. On December 1, 2020, Culver was able to sell an additional 781,000 shares of the common stock at $22 per share. These were the only common stock transactions that occurred during the two fiscal year . Prepare, in good form, a comparative income statement, beginning with income from operations, for Culver Corporation for the fiscal years ended May 31, 2020, and May 31, 2021. This statement will be included in Culver's annual report and should display the appropriate earnings per share presentations. (Round earnings per share to 2 decimal places, e-8. $1.55.) CULVER CORPORATION Comparative Income Statement For Fiscal Years Ended May 31, 2020 and 2021 2020 2021 $ Income From Operations 1729000 2599000 $ 260260 260260 Interest Expense 1468740 2338740 Income Before Taxes 293748 467748 Income Taxes 1174992 1870992 Income From Continuing Operations 373340 Loss From Discontinued Operations $ $ Net Income /(LOSS) 1174992 1497652 Earnings per share: $ $ Income From Continuing Operations 69 66 17 Loss From Discontinued Operations $ 5 Net Income /(LOS) 0.69