Flint Inc. reported income from continuing operations beforetaxes during 2017 of $811,200. Additional transactions occurring in2017 but not considered in the $811,200 are as follows.

1.		The corporation experienced an uninsured flood loss in theamount of $95,800 during the year.
2.		At the beginning of 2015, the corporation purchased a machinefor $54,000 (salvage value of $9,000) that had a useful life of 6years. The bookkeeper used straight-line depreciation for 2015,2016, and 2017, but failed to deduct the salvage value in computingthe depreciation base.
3.		Sale of securities held as a part of its portfolio resulted ina loss of $58,600 (pretax).
4.		When its president died, the corporation realized $160,600 froman insurance policy. The cash surrender value of this policy hadbeen carried on the books as an investment in the amount of $49,270(the gain is nontaxable).
5.		The corporation disposed of its recreational division at a lossof $112,200 before taxes. Assume that this transaction meets thecriteria for discontinued operations.
6.		The corporation decided to change its method of inventorypricing from average-cost to the FIFO method. The effect of thischange on prior years is to increase 2015 income by $60,510 anddecrease 2016 income by $21,140 before taxes. The FIFO method hasbeen used for 2017. The tax rate on these items is 40%.

Prepare an income statement for the year 2017 starting with incomefrom continuing operations before taxes. Compute earnings per shareas it should be shown on the face of the income statement. Commonshares outstanding for the year are 130,440 shares. (Assume a taxrate of 30% on all items, unless indicated otherwise.)