1. Current Attempt in Progress The following information was taken from the records of Waterway
Inc. for the year 2020: Income tax applicable to income from continuing operations $216 , 920 ;
income tax applicable to loss on discontinued operations $29 , 580 , and unrealized holding gain
on available-for-sale securities (net of tax) $17 , 400 . Shares outstanding during 2020 were
100,000 . (a) Prepare a single-step income statement (with respect to items in Income from
operations). (Round earnings per share to 2 decimal places, es. 1.48.) Prepare a single-step
income statement (with respect to items in Income from operations). (Round earnings per share
to 2 decimal places, eg. 1.48.) WATERWAY INC. Income Statement $ $ 8 Question 2 of 5 /25
(b) The parts of this question must be completed in order. This part will be available when you
complete the part above.