Following is information taken from the accounting records of Kagawa Company at the end of 2009.
- Net Sales $660,000
- Operating Income (from discontinued operations), $64,000
- Cost of Goods Sold, $370,000
- Gain on Sale of Assets (from discontinued operations), $55,000
- Operating Expenses, $134,000
- Flood Loss, $167,000
- Kagawa had 150,000 shares of common stock issued and outstanding throughout the year.
Kagawa's effective tax rate is 40 percent and is based in an area that does not normally experience floods. Kagawa's taxable income from the tax return is $100,000.

Prepare an income statement for Kagawa Company for 2009, including an earnings-per-share section.