Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate For the year ended December 31, Southern Supply had net sales of $7,470,000, costs and other expenses (including income tax) of $5,940,000, and a gain from discontinued operations (net of income tax) of $420,000. a. Prepare a condensed income statement (including earnings per share), assuming that 910,000 shares of common stock were outstanding throughout the year. b. Which earnings per share figure would you recommend be used to compute the price-earnings ratio for Southern Supply? Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required A Required B Prepare a condensed income statement (including earnings per share), assuming that 910,000 outstanding throughout the year. (Round Earnings per share of common stock to 2 decimal places.) shares of common stock were SOUTHERN SUPPLY Income Statement For the Year Ended er 31, Current Year Net sales Less: Costs and expenses Income before continuing operations Discontinued operations, net of income tax Net income $7,470 5,940,000 1,530,000 420,000 $1,950,000 Required A Required B Prepare a condensed income statement (including earnings per share), assuming that outstanding throughout the year. (Round Earnings per share of common stock to 2 decimal places.) 910,000 shares of common stock were SOUTHERN SUPPLY Income Statement For the Year Ended December 31, Current Year Net sales Less: Costs and expenses Income before continuing operations Discontinued operations, net of income tax Net income Earnings per share: $7,470,00 5,940,000 1,530,000 420,000 $1,950,000 Discontinued operations, net of income Ols 1.67 tax Income from continuing operations 0.47 Net income S 2.14 Required A Required B K Prev 3 of 4 Next From this information, compute answers to the following questions. a. How many shares of preferred stock have been issued? b. What is the total amount of the annual dividends to which preferred stockholders are entitled? c. What was the average issuance price per share of common stock? d. What is the amount of legal capital and the amount of total paid-in capital? e. What is the book value per share of common stock, assuming no dividends in arrears? f. Is it possible to determine the fair market value per share of common stock from the stockholders' equit 3 Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required E Required C Required DRequired E Required A Required B Required F What is the book value per share of common stock, assuming no dividends in arrears? (Round your answer to 2 places.) Book value $ 25.49 per share Required D Required F