Ex. 4-110-Income computations. (LO 2,4) Presented below is financial information of the Martin Corporation for 2020. Gain on the sale of investments 160,000 Net sales 45,000,000 Cost of goods sold 31,000,000 Loss on disposal of wholesale division 670,000 Interest revenue 105,000 Loss on operations of wholesale division 690,000 Selling and administrative expenses 8,200,000 Dividends declared on common stock 340,000 Write off of goodwill 780,000 Dividends declared on preferred stock 120,000 Effective tax rate on all items is 20% Martin Corporation decided to discontinue its wholesale operations and to retain thei manufacturing operations. On July 1, Martin sold the wholesale operations. During 2020, there were 800,000 shares of common stock outstanding all year. Instructions Compute each of the following. 1. Income from operations 2. Income before income tax 3. Income from continuing operations 4. Net income 5. Earnings per share