$($c$)$ Which format do you prefer? Discuss.

$-2*4\mathrm{.}06$ E$4-7($Income Statement, $$PS$)$ Presented below are selected ledger accounts of McGraw Corporation as of December $31,2010.$

Instructions

$($a$)$ Compute net income for $2010?$

$($b$)$ Prepare a partial income statement beginning with income from continuing operations before income tax, and including appropriate earnings per share information. Assume $20,000$ shares of common stock were outstanding during $2010.$