Stacy Corporation had income from operations of $7,200,000. In addition, it suffered an unusual and infrequent pretax loss of $770,000 from a volcano eruption, interest revenue of $17,000, and a write-down on buildings of $53,000. The corporations tax rate is 30%. Prepare a partial income statement for Stacy beginning with Income from operations. The corporation had 5,000,000 shares of common stock outstanding during 2017.

Use the template below (I filled in partial)

Income from operations				$7,200,000
	Other Revenues and Gains
	Interest revenue			17,000
	Other Expenses and Losses
	Loss due to volcano eruption			770,000
	Impairment loss - building			53,000
	Income before income tax
	Income tax (income before income tax X .30)			**
	Net income			**
	Per share of common stock:
	Net income (net income 5,000,000)			**