The net income reported on the income statement of Berkwood Ltd. was $500,000. Berkwood had 70,000 common shares and 4,000 $2 cumulative preferred shares outstanding throughout the current year. The income statement included a $20,000 gain arising from discontinued operations after applicable income taxes. Determine earnings per share for (a) income from continuing operations, (b) discontinued opera- tions, and (c) net income.