Presented below is financial information of the Marytime Corporation for 2020.

Gain on the sale of investments 160,000

Sales Revenue 45,000,000

Cost of goods sold 31,000,000

Sales Returns and Allowances 500,000

Gain on disposal of wholesale division, (pretax) 670,000

Administrative expenses 2,000,000

Interest revenue 105,000

Loss on operations of wholesale division, (pretax) 690,000

Selling expenses 4,000,000

Sales discounts 30,000

Dividends declared on common stock 340,000

Write off of goodwill 780,000

Dividends declared on preferred stock 120,000

Effective tax rate on all items is 30%

Marytime Corporation decided to discontinue its wholesale operations and to retain their manufacturing operations. On July 1, Marytime sold the wholesale operations. During 2020, there were 800,000 shares of common stock outstanding all year. Compute each of the following items below: show amounts needed to calculate totals

1. Net sales revenue

2. gross profit

3. income from operations

4. income before income tax

5. income from continuing operations

6. Gain/Loss from Discontinued Operations (net of tax)

7. net income

8. Earnings per share (Only for Net Income)

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