Zeus Company Reports the Following for the Current Year *Net of Any Tax Effect
A) Prepare a Partial Income

Zeus Company reports the following for the current year: $$\begin{array} { | l | l | } \hline \text { Income from continuing operations before income tax } & \$ 500,000 \\\hline \text { Extraordinary property loss from hurricane } & \$ 60,000 ^ { * } \\\hline \text { Loss from discontinued operations } & \$ 90,000 ^ { * } \\\hline \text { Weighted average number of common shares outstanding } & 40,000 \\\hline \text { Applicable tax rate } & 40 \% \\\hline\end{array}$$ *Net of any tax effect
a) Prepare a partial income statement for Zeus Company beginning with income from continuing operations before income tax.
b) Calculate the earnings per common share for Zeus, including per-share amount for unusual items.

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