(Income Statement , EPS) Presented below are selected ledger accounts of Corporation as of December 31. 2020 Cash 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 Instructions a. Compute net income for 2020 50.000 100,000 80,000 540,000 210,000 20,000 40.000 30,000 90.000 b. Prepare a partial income statement beginning with income from continuing operations before it mon stock were outstanding during 2020. come taxand including appropriate earnings per share information Assume 10.000 shares of com Statement )

E4.8 (LO 2, 3) (Income Statement, EPS) Presented below are selected ledger accounts of Tucker Corporation as of December 31, 2020. Cash $ 50,000 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 90,000 Effective tax rate 20% Instructions a. Compute net income for 2020. b. Prepare a partial income statement beginning with income from continuing operations before in- come tax, and including appropriate earnings per share information. Assume 10,000 shares of com- mon stock were outstanding during 2020. montuith notoinod Porning Statement Presented 100,000 80.000 540,000 210,000 20.000 W. 15,000 40.000 30,000 F492