For the year ended December $31,$ Western Supply had net sales of $$3,875,000,$ costs and other expenses $($including income tax$)$ of

$$3,100,000,$ and a gain from discontinued operations $($net of income tax$)$ of $$210,000.$

Required:

a$.$ Prepare a condensed income statement $($including earnings per share$),$ assuming that $620,000$ shares of common stock were

outstanding throughout the year.

b$.$ Which earnings per share figure would you recommend be used to compute the price$-$earnings ratio for Western Supply?

Complete this question by entering your answers in the tabs below.

Required $A$

Prepare a condensed income statement $($including earnings per share$),$ assuming that $620,000$ shares of common stock were

outstanding throughout the year.

Note: Round Earnings per share of common stock to $2$ decimal places.