The following information was taken from the records of Crane Inc. for the year 2020: Income tax applicable to income from continuing operations $149,600; income tax applicable to loss on discontinued operations $20,400, and unrealized holding gain on available-for-sale securities (net of tax) $12,000. Gain on sale of equipment $76,000 Cash dividends declared $120,000 Loss on discontinued operations 60,000 Retained earnings January 1, 2020 480,000 Administrative expenses 192,000 Cost of goods sold 680,000 Rent revenue 32,000 Selling expenses 240,000 Loss on write-down of inventory 48,000 Sales Revenue 1,520,000 Shares outstanding during 2020 were 100,000. (a) Prepare a single-step income statement (with respect to items in Income from operations). (Round earnings per share to 2 decimal places, e.g. 1.48.)