Given the following pre-tax information about Fly Company's current year activities, answer the question listed below: 185,000 21,000 Sales Income from operations of discontinued of Division W (before tax) Loss from hurricane damage Cost of goods sold Selling expenses General and administrative expenses Gain on sale of equipment Loss from disposal of Division W (before tax) The income tax rate is 24% (28,000) 67,000 12,000 20,000 25,000 (54,000) 1. Prepare an Income Statement for Fly Company as of December 31, 2020 2. What amounts should be reported on the income statement as earnings per share assuming the company had the following changes in common shares outstanding occurred during the year: Jan 1 60,000 common shares were outstanding. Mar 1 Sold 20,000 common shares. Aug 1 Purchased and retired 4,000 shares