Show me the steps to solve A portion of the combined statement of income and retained earnings of Ivanhoe Inc. for the current year follows.

Dividends declared:

On preferred stock $-$$$6\mathrm{.}00$ per share

Note $1.$ During the year, Ivanhoe Inc. suffered a major loss from discontinued operations of $$1,296,400$ after applicable income tax reduction of $$1,190,000.$

finance the loss from discontinued operations.

Compute the earnings per share on common stock for the current year as it should be reported to stockholders. $($Round answer to $2$ decimal places, e$.$g$.2\mathrm{.}55.)$

IVANHOE INC,

Income Statement

For the Year Ended December $31$

Lossfrom Discontinued Operations

$

Income from Continuing Operations

$$

Net income$/($Loss$)$

$