LCM had two operating divisions, one manufactures equipment and the other breeds and sells horses. Both divisions are considered separate components as defined by generally accepted accounting principles. The horse division has been unprofitable, and on September 1, 2014, the company adopted a plan to sell the assets of the division. The actual sale was effected on December 15, 2014, at a price of $ 1,500,000. The book value of the division's assets was $ 500,000, resulting in a before-tax gain of $ 1,000,000. The horse division Incurred before-tax operating losses of $ 300,000 from the beginning of the year through December 15. The Income tax rate is 40%, LCM's before tax income from continuing operations is $ 500,000 Required: Prepare an income statement for 2014 beginning with income from continuing operations. Include appropriate EPS disclosures assuming that 100,000 shares of common stock were outstanding throughout the year