Exercise 110 Presented below is financial information of the Martin Corporation for 2017 Gain on the sale of investments Net sales Cost of goods sold Loss on disposal of wholesale division Interest revenue Loss on operations of wholesale division Selling and administrative expenses Dividends declared on common stock Write off of goodwill Dividends declared on preferred stock Effective tax rate on all items is 34% 160,000 45,000,000 31,000,000 670,000 105,000 690,000 8,200,000 340,000 780,000 120,000 Martin Corporation decided to discontinue its wholesale operations and to retain their manufacturing operations. On July 1, Martin sold the wholesale operations. During 2017, there were 800,000 shares of common stock outstanding all year Compute each of the following. (Round earnings per share answer to 2 decimal places, e.g. 5.25 and all other answers to 0 decimal places, e.g. 5,275) Income from operations 2. Income before income tax 3. Income from continuing operations 4. Net income 5. Earnings per share