Grouper Inc. reported income from continuing operations beforetaxes during 2017 of $791,900. Additional transactions occurring in2017 but not considered in the $791,900 are as follows.

1.		The corporation experiencedan uninsured flood loss in the amount of $91,900 during theyear.
2.		At the beginning of 2015, thecorporation purchased a machine for $81,000 (salvage value of$13,500) that had a useful life of 6 years. The bookkeeper usedstraight-line depreciation for 2015, 2016, and 2017, but failed todeduct the salvage value in computing the depreciation base.
3.		Sale of securities held as apart of its portfolio resulted in a loss of $62,300 (pretax).
4.		When its president died, thecorporation realized $162,700 from an insurance policy. The cashsurrender value of this policy had been carried on the books as aninvestment in the amount of $48,960 (the gain is nontaxable).
5.		The corporation disposed ofits recreational division at a loss of $112,400 before taxes.Assume that this transaction meets the criteria for discontinuedoperations.
6.		The corporation decided tochange its method of inventory pricing from average-cost to theFIFO method. The effect of this change on prior years is toincrease 2015 income by $59,080 and decrease 2016 income by $21,140before taxes. The FIFO method has been used for 2017. The tax rateon 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 129,730 shares. (Assume a taxrate of 30% on all items, unless indicated otherwise.)(Round earnings per share to 2 decimal places, e.g.1.48 and all other answers to 0 decimal places, e.g.5,275.)