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

Gain on the sale of investments 160,000 Net sales 45,000,000 Cost of goods sold 31,000,000 Loss on disposal of wholesale division 670,000 Interest revenue 105,000 Loss on operations of wholesale division 690,000 Selling and administrative expenses 8,200,000 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 34%

Melvina Corporation decided to discontinue its wholesale operations and to retain their manufacturing operations. On July 1, Melvina sold the wholesale operations. During 2020, there were 850,000 shares of common stock outstanding all year.

Instructions: Compute each of the following . You must show your work..

1. Income from operations

2. Income before income tax

3. Income from continuing operations

4. Net income

5. Earnings per share