Problem $(10$ points$).$

Pecan Corporation has tentatively calculated income from continuing operations before taxes as

$$6,000,000$ for $20$ X $8.$ The following attached items have not been taken into consideration in this

calculation for the year.

REQUIRED: $(1)$ Using the attached form, prepare an income statement for $20$X$8$ for Pecan

Corporation, including appropriate earnings per share $($EPS$)$ computations,

beginning with income from continuing operations, making appropriate

adjustments for the items attached that affect income. Be sure to show all

appropriate computations for the numbers shown.

$(2)$ Using the attached form, indicate any additional disclosures that would be

required in the notes to the financial statements for any of the items discussed

in the attached information. Be specific with your answers.