Cruz Inc. reports the following for 2014:

Income from continuing operations before income tax... $1,000,000

Extraordinary property loss from hurricane........ $140,000*

Loss from discontinued operations........... $240,000*

Weighted average number of shares outstanding.... 20,000

Applicable tax rate ............... 40%

*Net of any tax effect.

a. Prepare a partial income statement for Cruz Inc., beginning with income from continuing operations before income tax.

b. Calculate the earnings per common share for Cruz Inc., including per-share amounts for unusual items.