FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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The following are partial income statement account balances taken from the December 31, 2024, year-end trial balance of White and
Sons, Incorporated: restructuring costs, $430,000; interest revenue, $53,000; before-tax loss on discontinued operations, $530,000;
and loss on sale of investments, $63,000. Income tax expense has not yet been recorded. The income tax rate is 25%.
Prepare the lower portion of the 2024 income statement beginning with $865,000 income from continuing operations before income
taxes. Include appropriate EPS disclosures. The company had 150,000 shares of common stock outstanding throughout the year.
Note: Loss amounts should be indicated with a minus sign. Round "EPS" answers to 2 decimal places.
WHITE AND SONS, INCORPORATED
Partial Income Statement
For the Year Ended December 31, 2024.
Income from continuing operations before income taxes
Income from continuing operations
Earnings per share
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Transcribed Image Text:The following are partial income statement account balances taken from the December 31, 2024, year-end trial balance of White and Sons, Incorporated: restructuring costs, $430,000; interest revenue, $53,000; before-tax loss on discontinued operations, $530,000; and loss on sale of investments, $63,000. Income tax expense has not yet been recorded. The income tax rate is 25%. Prepare the lower portion of the 2024 income statement beginning with $865,000 income from continuing operations before income taxes. Include appropriate EPS disclosures. The company had 150,000 shares of common stock outstanding throughout the year. Note: Loss amounts should be indicated with a minus sign. Round "EPS" answers to 2 decimal places. WHITE AND SONS, INCORPORATED Partial Income Statement For the Year Ended December 31, 2024. Income from continuing operations before income taxes Income from continuing operations Earnings per share
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