The following balances from the books of Careless Corporation are given on March 31, 2012, which is the end of the accounting year.

$

Net Sales 600,000

Cost of goods sold 200,000

Administration expenses 160,000

Selling expenses 40,000

Restructuring costs 80,000

Dividend income 12,000

Income from discontinued operations 30,000

Loss from disposal of discontinued segment 10,000

A tax rate of 40% is charged on all income unless otherwise specified.

Required: (a) Prepare an income statement for the company in good form at the end of the year. (b) Calculate the EPS at the end of the accounting year. The company had 100,000 shares of common stock issued and outstanding as on that date.