Question - The following are partial income statement account balances taken from the December 31, 2013, year-end trial balance of White and Sons, Inc.: restructuring costs, $330,000; interest revenue, $43,000; loss from earthquake (unusual and infrequent), $430,000; and loss on sale of investments, $53,000. Income tax expense has not yet been accrued. The income tax rate is 40%.

Prepare the lower portion of the 2013 income statement beginning with $865,000 income before income taxes and extraordinary item. Include appropriate basic EPS disclosures. The company had 150,000 shares of common stock outstanding throughout the year.