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I need help in how to find the Extraordinary Loss, please can youn tell me how to do this. I have some done, and how

I need help in how to find the Extraordinary Loss, please can youn tell me how to do this. I have some done, and how to do Earnings per Common Share.

Pallest Corporation reported the following pretax information for its current fiscal year: $40,000 income from continuing operations and an $8,000 extraordinary loss. Pallest is subject to a 30% income tax rate and had 8,000 shares of common stock outstanding for the year.

Starting with pretax income from continuing operations, prepare a partial income statement for Pallest Corporation for the current year. Be sure to include earnings per share information. Round earnings per share computations to two decimal places.

PALLEST CORPORATION

Income Statement (Partial)

For Year Ended December 31, Current Year

Pretax income from continuing operations

$ 40,000

Income tax expense

12,000

Income from continuing operations

$ 28,000

Extraordinary loss (net of taxes)

Net Income

$

Components of Income

Earnings per Common Share

Income from continuing operations

$

Extraordinary loss

Net income

$

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