FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Finley Corporation had income from continuing operations of $10,600,000 in 2025. During 2025, it disposed of its restaurant division
at an after-tax loss of $189,000. Prior to disposal, the division operated at a loss of $315,000 (net of tax) in 2025 (assume that the
disposal of the restaurant division meets the criteria for recognition as a discontinued operation). Finley had 10,000,000 shares of
common stock outstanding during 2025. Prepare a partial income statement for Finley beginning with income from continuing
operations. (Round earnings per share to 2 decimal places, e.g. 1.48.)
FINLEY CORPORATION
Income Statement (Partial)
December 31, 2025
$
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Transcribed Image Text:Finley Corporation had income from continuing operations of $10,600,000 in 2025. During 2025, it disposed of its restaurant division at an after-tax loss of $189,000. Prior to disposal, the division operated at a loss of $315,000 (net of tax) in 2025 (assume that the disposal of the restaurant division meets the criteria for recognition as a discontinued operation). Finley had 10,000,000 shares of common stock outstanding during 2025. Prepare a partial income statement for Finley beginning with income from continuing operations. (Round earnings per share to 2 decimal places, e.g. 1.48.) FINLEY CORPORATION Income Statement (Partial) December 31, 2025 $
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