Pat Matthew Company reported the following pre-tax information for its current year, 2020: $40,000 income from continuing operations and an $8,000 loss from discontinuing segment. Pat Matthew is...

1. Pat Matthew Company reported the following pre-tax information for its current year, 2020: $40,000 income from continuing operations and an $8,000 loss from discontinuing segment. Pat Matthew is subject to a 30% income tax rate. It had a total of 8000 shares of common stock outstanding for the year.

Required:

Starting with pretax income from continuing operations, prepare a partial Income Statement for Pat Matthew Company for 2020. Be sure you include Earning Per Share information.