Question
Blue Corporation had income from continuing operations of $10,634,000 in 2017. During 2017, it disposed of...
Blue Corporation had income from continuing operations of $10,634,000 in 2017. During 2017, it disposed of its restaurant division at an after-tax loss of $206,700. Prior to disposal, the division operated at a loss of $320,700 (net of tax) in 2017 (assume that the disposal of the restaurant division meets the criteria for recognition as a discontinued operation). Blue had 10,000,000 shares of common stock outstanding during 2017. Prepare a partial income statement for Blue beginning with income from continuing operations. (Round earnings per share to 2 decimal places, e.g. 1.48.)
BLUE CORPORATION Income Statement (Partial)
Answers
BLUE CORPORATION Income Statement (Partial) For the Year Ended 2017 Income from continuing operations 10634000 Income (Loss) from discontinued operations: Loss from operating discontinued segment -320700 Loss from disposal of discontinued segment -206700 -527400 Net income $ 10106600 Earnings per share: Earnings from continuing operations 1.06 Earnings from discontinued operations -0.05 Net earnings per share $ 1.01 Note: Kindly select appropriately from the drop-downs since the same have not been provided with the question.
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