For the year ended December 31, 2020, Cheyenne Corporation had income before taxes and discontinued operations of $1,070,000. During the year, Cheyenne disposed of one of its business segments for a gain of $300,000 before tax. Cheyenne had 50,000 common shares outstanding during the year. The company was subject to a 35% income tax rate.

Prepare the income statement for Cheyenne Corporation beginning with the line "Income from continuing operations before income tax."(Round earnings per share values to 2 decimal places, e.g. 15.25.)