Presented below are selected ledger accounts of Vaughn Corporation as of December 31, 2020. Cash Administrative expenses Selling expenses Net sales Cost of goods sold Cash dividends declared (2020) Cash dividends paid (2020) Discontinued operations (loss before income taxes) Depreciation expense, not recorded in 2019 Retained earnings, December 31, 2019 Effective tax rate 20% $54,000 108,000 86,400 583,200 226,800 21,600 16,200 43,200 32,400 97,200 Prepare a partial income statement beginning with income from continuing operations before income tax, and including appropriate earnings per share information. Assume 10,000 shares of common stock were outstanding during 2020. (Round earnings per share to 2 decimal places, eg. 1.58.) VAUGHN CORPORATION Income Statement VAUGHN CORPORATION Income Statement