Question 18 of 20 < > Presented below are selected ledger accounts of Novak Corporation as of December 31, 2025. 0.51 / 0.65 Cash Administrative expenses $123,000 252,000 201,000 Selling expenses Net sales 1,340,000 Cost of goods sold 527,000 Cash dividends declared (2025) 47,000 Cash dividends paid (2025) 35,900 Discontinued operations (loss before income taxes) 99,000 Depreciation expense, not recorded in 2024 75,000 Retained earnings, December 31, 2024 227,000 Effective tax rate = 20% = III Question 18 of 20 (a) Your answer is correct. Compute net income for 2025. Net income +A eTextbook and Media 208800 0.51 / 0.65 Attempts: 1 of 4 used Question 18 of 20 < > (b) Your answer is partially correct. 0.51 / 0.65 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 2025. (Round earnings per share to 2 decimal places, e.g. 1.58. Enter loss using-sign before the number or in parantheses, e.g. -5,125 or (5,125).) NOVAK CORPORATION Income Statement For the Year Ended December 31, 2025 Income from Continuing Operations before Income Tax Income Tax Income from Continuing Operations Loss from Discontinued Operations 1340000 -75000 813000 360000 Question 18 of 20 < > Income from Continuing Operations before Income Tax Income Tax Income from Continuing Operations Loss from Discontinued Operations Net Income / (Loss) Earnings per Share 0.51 / 0.65 1340000 -75000 813000 360000 72000 Income from Continuing Operations 288000 Loss from Discontinued Operations 79200 Net Income/(Loss) 208800 III