The Cecil-Booker Vending Company changed its method of valuing inventory from the average cost method to the FIFO cost method at the beginning of 2013. At December 31, 2012, inventories were $130,000 (average cost basis) and were $134,000 a year earlier. Cecil-Bookers accountants determined that the inventories would have totaled $175,000 at December 31, 2012, and $180,000 at December 31, 2011, if determined on a FIFO basis. A tax rate of 40% is in effect for all years.

One hundred thousand common shares were outstanding each year. Income from continuing operations was $500,000 in 2012 and $625,000 in 2013. There were no extraordinary items either year.

Prepare the 20132012 comparative income statements beginning with income from continuing operations. Include per share amounts. (Round EPS answers to 2 decimal places.)

	2013	2012
Income before taxes
Less: Income Tax
Net Income
Earnings Per common share