Problem $2-8$ Discontinued operations components held for sale $($LO$2-5,$ LO$2-6,$ LO$2-8)$

For $20$X$1,$ Silvertip Construction, Inc., reported income from continuing operations $($after tax$)$ of $$1,650,000.$ On November $15,20$X$1,$ the

company adopted a plan to dispose of a component of the business. This component qualifies for discontinued operations treatment.

During $20$X$1,$ the component had pre$-$tax operating losses of $$95,000.$ The component's assets had a book value of $$760,000$ on

December $31,20$X$1.$ A recent market value analysis of these assets placed their estimated selling price at $$735,000,$ less a $6\%$

brokerage commission. Management appropriately determines that these assets are impaired and expects to find a buyer for the

component and complete the sale early in $202.$

Required:

Prepare a partial income statement for Silvertip including EPS disclosures for the year ended December $31,20$X$1.$ Begin at income

from continuing operations. Assume a $21\%$ income tax rate and $1,000,000$ shares of outstanding common stock. $($Round your answers

to $2$ decimal places under "Earnings per share".$)$