Apex Inc. reports the following for a recent year:

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 Apex Inc., beginning with income from continuing operations before income tax.

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