I need help with all the parts I got wrong! Confused on the labels and the math!

4 Homework Question 2 of 6 0.58/3 View Policies Show Attempt History Current Attempt in Progress Presented below are selected ledger accounts of Kingbird Corporation as of December 31, 2020. Cash $60,000 120,000 96,000 648,000 252,000 Administrative expenses Selling expenses Net sales Cost of goods sold Cash dividends declared (2020) Cash dividends paid (2020) Discontinued operations (loss before income taxes) Depreciation expense, not recorded in 2019 Retained earnings, December 31, 2019 Effective tax rate 20% 24,000 18,000 48,000 36,000 108,000 x Your answer is incorrect. Compute net income for 2020. Not income 400000 Question 2 of 6 0.58/3 Prepare a partial income statement beginning with income from continuing operations before income tax, and including appropriate earnings per share information. Assume 10,000 shares of common stock were outstanding during 2020. (Round earnings per share to 2 decimal places, e.g. 1.58.) KINGBIRD CORPORATION Income Statement For the Year Ended December 31, 2017 Income From Continuing Operations Before Income Tax v $ 600,000 Income Tax 120,000 Loss on Discontinued Operations, Net of Tax 36,000 Income From Continuing Operations Before Income Tax 48,000 Net Income /(Loss) $ 480,000 Earnings Per Share Income From Continuing Operations $ 600,000 Loss on Discontinued Operations, Net of Tax 120,000 Earnings Per Share 48 eTextbook and Media