Presented below are selected ledger accounts of Pina Corporation as of December 31, 2017

Cash		$59,200
Administrative expenses		106,300
Selling expenses		83,010
Net sales		542,800
Cost of goods sold		265,200
Cash dividends declared (2017)		20,600
Cash dividends paid (2017)		18,300
Discontinued operations (loss before income taxes)		46,800
Depreciation expense, not recorded in 2016		39,100
Retained earnings, December 31, 2016		96,130
Effective tax rate 30% 1. Compute the net income for 2017. 2. Prepare a partial income statement beginning with income from continuing operations before income tax, and including appropriate earnings per share information. Assume 18,400 shares of common stock were outstanding during 2017.