Cullumber Inc. reported income from continuing operations before taxes during $2023$ of $$750,960.$ Additional transactions occurring in $2023$ but not considered in the $$750,960$ are as follows.

$1.$ The corporation experienced an uninsured flood loss in the amount of $$75,600$ during the year.

$2.$ At the beginning of $2021,$ the corporation purchased a machine for $$45,360($salvage value of $$7,560)$ that had a useful life of

$6$ years. The bookkeeper used straight$-$line depreciation for $2021,2022,$ and $2023,$ but failed to deduct the salvage value in

computing the depreciation base.

$3.$Sale of securities held as a part of its FV$-$NI portfolio resulted in a loss of $$47,880.$

$4.$ The corporation disposed of its recreational division at a loss of $$96,600$ before taxes. Assume that this transaction meets the criteria for discontinued operations.

$5.$ The corporation decided to change its method of inventory pricing from average$-$cost to the FIFO method. The effect of this

change on prior years is to increase $2021$ income by $$50,400$ and decrease $2022$ income by $$16,800$ before taxes. The FIFO

method has been used for $2023.$

$6.$ Cullumber follows IFRS and has a December year end. Common shares outstanding for the year are $120,000$ shares. Assume a tax rate

of $30\%$ on all items, unless indicated otherwise.

$($a$)$ Calculate the revised income from continuing operation

$($b$)$ Prepare an income statement for the year $2023$ starting with income from continuing operations before taxes. Compute earnings per share as it should be shown on the face of the income statement.