Sarasota Corporation is preparing the comparative financial statements for the annual report to its shareholders for fiscal years ended May 31, 2020, and May 31, 2021. The income from operations for the fiscal year ended May 31, 2020, was $1,788,000 and income from operations for the fiscal year ended May 31, 2021. was $2.381,000. In both years, the company incurred a 11% interest expense on $2.497.000 of debt, en obligation that requires interest-only payments for 5 years. The company sperienced a loss from discontinued operations of 5611,000 on February 2021. The company uses a 20% effective tax rate for income taxes. The capital structure of Sarasota Corporation on June 1, 2019. consisted of 978.000 shares of common stock outstanding and 19,700 shares of $50 per value, 6%, cumulative preferred stock. There were no preferred dividends in arriers and the company had not issued any convertible securities, options, or warrants. On October 1, 2019. Sarasota solo an additional 477,000 shares of the common stock et $20 per share. Sarasota distributed a 20% Stockovided on the common shares outstanding on January 1, 2020. On December 1, 2020. Sarasota was able to sell an do trong 796.000 shares of the common stock at $22 per share. These were the only common stock transactions that occurred during the two fiscal years. Determine the weighted average number of shares thet Sarasota Corporation would use in ce culeangeemings per share for the fisce year ended: Weighted average number of shares May 31, 2020 May 31, 2021 21-4000 Question Prepare, in good form a comparative income statement, beginning with income from operations, for Sarasota Corporation for the fiscal years ended May 31, 2020, and May 31, 2021. This statement will be included in Sarasota's annual report and should display the appropriate earnings per share presentations. (Round earnings per farm to 2 dmokrmal places, 1155) SARASOTA CORPORATION Comparative Income Statement Fer Fiscal Years Ended May 31, 2020 and 2021 2021 2020 2.381.000 $ 1,788.000 Income from operations 1 274670 274,670 1 teet Esense 2,06,330 1.513,330 neem Bere eges 3022666 Income Taxes 110,664 1.685.064 Income Prom Continuing Operations v 488.300 Discerned operations S 5 Earnings per stare 714 S come Careruing eratlong Los From Discontinued Operatore 5