Falana Academy Surplus had 35,000 shares of common stock and 12,000 shares of 5%, $5 par value preferred stock outstanding through December 31, 2018. Income from continuing operations for 2018 was $559,500, and loss on discontinued operations (net of income tax saving) was $28,000. Compute Falana's earnings per share for 2018, starting with income from continuing operations. Round to the nearest cent. (Enter all EPS amounts to the nearest cent, $X.XX. Use parentheses or a minus sign for amounts reducing the income from continuing operations.) Begin by selecting the formula to compute the earnings per share. (Net income - Preferred dividends) / Weighted average number of common shares Earnings per share = outstanding Now, compute Falana's eaming: per share for 2018, starting with income from continuing operations. Earnings per Share of Common Stock (35,000 shares outstanding): Income From Continuing Operations Loss From Discontinued Operations Net Income