Reporting Earnings per Share Disclosures Siera Inc. had 350,000 shares of no par common stock outstanding throughout 2020 that declared and paid dividends of $80,000 in 2020. The company also had 48,000 shares of preferred stock that paid dividends of $8,000 in 2020 (declared in 2020). The company reported the following amounts in its income statement for the year ended December 31, 2020 (pretax). Income from continuing operations $2,000,000 Loss from discontinued operations 56,000 Required a. Prepare the earnings per share section of the income statement for the year ended December 31, 2020, assuming a tax rate of 25 %. Use a negative sign to indicate a loss. Round the per share amounts to two decimal places. Per Share: Income from continuing operations Loss from discontinued component, net of tax savings 4.11x (0.12) Net income 4.17 Required b. Repeat requirement of part a except now assume that the company reported income from discontinued operations of $56,000. Use a negative sign to indicate a loss. Round the per share amounts to two decimal places. Per Share: Income from continuing operations Income from discontinued component, net of tax 0 x $ 0.875 x Net income 0 x