Lucas Company reported the following information about its stock on its December 31, 2019, balance sheet: Preferred stock, $2 par value, 5% cumulative, 300,000 shares $240.000 authorized, 120,000 shares issued and outstanding Common stock, $1 par value, 500,000 shares authorized, 240,00 shares $240,000 issued and outstanding The following amounts were taken from Lucas' income statement: income from continuing operations before income $680,000 taxes Income tax expense (204,000) Income from continuing operations 476,000 Loss from discontinued operations, net of $13,000 (36,000) tax benefit Net Income $440,000 There were no stock transactions during 2019 and no dividends were declared during 2019. Required: Prepare the 2019 income statement disclosure of basic earnings per share