Use the following information for questions: 4-7 Jets Corporation had income from continuing operations of $800,000 (after taxes) in 2017. In addition, the following information, which has not been considered, is as follows. A. In 2017, Jets experienced an uninsured B. A machine was sold for $80,000 cash during the year at a time when its book value was ca. in the amount of $100,000. $100,000. Depreciation has been property 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. nuso Assume the tax rate is 30% and there were 100,000 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