The following Income Statement information has been obtained from the books of Unlimited Liquors Corporation for the year ended March 31, 2022. The Income tax rate is 40% and the company has 50,000 shares of common stock outstanding.

Sales Revenue $890,000

Cost of Goods sold 300,000

Operating expenses 220,000

Income from discontinued operations 140,000

Loss on disposal of

discontinued operations 60,000

1. Determine the income or loss from discontinued operations as reported on the Income Statement

2. Determine the net income or loss from the discontinued segment of the company as reported on the Income Statement

3. What is the EPS of the company