Siera Inc. had 350,000 shares of no par common stock outstanding throughout 2020 that declared and paid dividends of $50,000 in 2020. The company also had 30,000 shares of preferred stock that paid dividends of $5,000 in 2020 (declared in 2020). The company reported the following amounts in its income statement for the year ended December 31, 2020 (pretax). Income from continuing operations $1,250,000 Loss from discontinued operations 35,000 Required a. Prepare the earnings per share section of the income statement for the year ended December 31, 2020, assuming a tax rate of 25%.