Income statement information for the Shah Corporation during 20x1 is as follows:

Corporate Income Statement

a. Administrative expenses, 220,000 .

b. Cost of goods sold, 880,000 .

c. Extraordinary loss from a storm (net of taxes, 20,000), 40,000.

d. Income taxes expense, continuing operations, 84,000 .

e. Net sales, \(1,780,000\).

f. Selling expenses, 380,000 .

REQUIRED Prepare Shah Corporation's income statement for the year ended December 31, 20x1, including earnings per share information assuming a weighted average of 200,000 ordinary shares outstanding for \(20 \mathrm{x} 1\).

LO 5 Comprehensive Shareholders'