The Big and Rich Corporation had income from operations before tax for 2014 of $7.3 million. In addition, it suffered an unusual and infrequent loss of $ 1,770,000 from a tornado. Of this amount, $500,000 was insured. In addition, the company realized a loss from the sale of a building amounting to 5250,000. The corporation's tax rate is 30%.
Prepare a partial income statement for Big and Rich beginning with income from operations. The corporation had five million common shares outstanding during 2014. Include calculation of EPS.