x E13-35 (similar to) | * Question Help Falana Academy Surplus had 100,000 shares of common stock and 8,000 shares of 15%, $20 par value preferred stock outstanding throug December 31, 2018. Income from continuing operations for 2018 was $1,594,000, and loss on discontinued operations (net of income tax saving) was $120,000. Compute Falana's earnings per share for 2018, starting with income from continuing operations. Round to the nearest cent. (Enter all EPS amounts to the nearest cent, $X.XX. Use parentheses or a minus sign for amounts reducing the income from continuing operations.) Begin by selecting the formula to compute the earnings per share. Earnings per share = (Net income - Preferred dividends) / Weighted average number of common shares outstanding Now, compute Falana's earnings per share for 2018, starting with income from continuing operations. Earnings per Share of Common Stock (100,000 shares outstanding): Net Income