Todd Corporation had pre-tax income for 2017 of $2,500,000. On December 31, 2017, Boyd disposed of a component of its business that represented a strategic shift in operation. That component had a Loss on Discontinued Operations of $450,000 (pre-tax). Boyd received $1,000,000 net cash proceeds from the disposal of that component. The component had a net book value of $900,000. Boyd pays taxes at a 30% rate. Boyd had 2,000,000 shares of common stock outstanding during 2017, and also had 50,000 shares of 5% preferred stock, issued at $100 par value.

1. Prepare the Discontinued Operations portion of Todd Corporations 2017 Income Statement. Follow intraperiod tax allocation requirements. Show your work for partial credit.

2. Prepare the Earnings per Share information as it would be presented on the Income Statement at December 31, 2017. (include: income from continuing operations, loss on discontinued operations, and net income)

please show work!