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divisions are considered separate components as defined by generally accepted accounting principles. The farm equipment component had been unprofitable, and on September 1, 2024, the company adopted a plan to sell the assets of the division. Consider the following: - The actual sale was completed on December 15,2024 , at a price of $690,000. The book value of the division's assets was $1,190,000, resulting in a before-tax loss of $500,000 on the sale. - The division incurred a before-tax operating loss from operations of $120,000 from the beginning of the year through December 15. - Chance's after-tax income from its continuing operations is $640,000. - The income tax rate is 25%. Required: Prepare an income statement beginning with income from continuing operations. Include appropriate EPS disclosures assuming that 100,000 shares of common stock were outstanding throughout the year. Note: Amounts to be deducted should be indicated with a minus sign. Round EPS answers to 2 decimal places