Use the following information for questions: 47 Jets Corporation had income trom infonmation, which has not been considered, is as follows loss i n the amount of $100,000 a. A machine was sokd for $80,000 cash during the year at a time when ts book value was $100,000. (Depreciation has been properly recorded C Jets decided to discontinue its stereo division in 2017 During the current year, the loss on the disposal of this component of the business was $80.000 Assume the tax rate is 30% and there were 200,000 shares of common stock outstanding during the year. 4. Correct income from continuing operations is: a. $900,000 b. $870,000 c. $852,000 d. $600,000 e. None of the above 5. Net income is: a. $670,000 b. $660,000 c. $810,000 d. $600,000 e. None of the above 6. Net income per share (EPS) is: a. $3.81 b. $3.00 c. $3.35 d. $3.30 e. None of the above 7. The amount reported as loss on discontinued operations is: a. $100,000 b. $80,000 c. $56,000 d. $90,000 e. None of the above