CORONADO CORPORATION | |||
Income Statement (Partial) | |||
For the Year Ended December 31, 2017 | |||
Income from continuing operation | $10,700,000 | ||
Discontinued operations | |||
Loss from operation of discontinued restaurant division (net of tax) | $421,000 | ||
Loss from disposal of restaurant division (net of tax) | $194,000 | ||
$615,000 | |||
Net Income | $10,085,000 | ||
Earnings per share | |||
Income from continuing operations | $1.07 | ($10,700,000/10,000,000) | |
Discontinued operations, net of tax | -$0.06 | ($615,000/10,000,000) | |
Net Income | $1.01 | ||
Spring 2020 HW4 Send to Cradebook Question 1 View Policies Current Attempt in Progress Corrado Caporation...
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...
Teal Corporation had income from continuing operations of $10,685,300 in 2017. During 2017, it disposed of its restaurant division at an after-tax loss of $207,200. Prior to disposal, the division operated at a loss of $315,300 (net of tax) in 2017 (assume that the disposal of the restaurant division meets the criteria for recognition as a discontinued operation). Teal had 10,000,000 shares of common stock outstanding during 2017. Prepare a partial income statement for Teal beginning with income from continuing...
J UI JUDremd-901801 LE+ Send to Gradebook Question 5 View Policies Current Attempt in Progress Whispering Inc. reported income from continuing operations before taxes during 2020 of $793,700. Additional transactions occurring in 2020 but not considered in the $793.700 are as follows. 1. The corporation experienced an uninsured flood loss in the amount of $91,900 during the year. 2. At the beginning of 2018, the corporation purchased a machine for $70,200 (salvage value of $11,700) that had a useful life...
Please show Calculation how you got to the final product
Sunland Corporation had income from continuing operations of $10,863,600 in 2020. During 2020, it disposed of its restaurant division at an after-tax loss of $207,500. Prior to disposal, the division operated at a loss of $325,000 (net of tax) in 2020 (assume that the disposal of the restaurant division meets the criteria for recognition as a discontinued operation). Sunland had 10,000,000 shares of common stock outstanding during 2020. Prepare a...
need help pls
--/25 Question 6 View Policies Current Attempt in Progress Kingbird Inc. reported income from continuing operations before taxes during 2020 of $818,700. Additional transactions occurring in 2020 but not considered in the $818,700 are as follows. 1. The corporation experienced an uninsured flood loss in the amount of $96,000 during the year. 2. At the beginning of 2018, the corporation purchased a machine for $61,200 (salvage value of $10,200) that had a useful life of 6 years....
Question 1 of 1 - / 10 III View Policies Current Attempt in Progress Waterway Corp. has 150,600 shares of common stock outstanding. In 2020, the company reports income from continuing operations before income tax of $1,233,800. Additional transactions not considered in the $1,233,800 are as follows. 1. 2. In 2020, Waterway Corp. sold equipment for $37,700. The machine had originally cost $81,400 and had accumulated depreciation of $30,400. The gain or loss is considered non-recurring. The company discontinued operations...
Question 3 --/1 View Policies Current Attempt in Progress Coronado Corporation reported the following for 2020: net sales $1,220,300, cost of goods sold $729,000, selling and administrative expenses $331,600, and an unrealized holding gain on available-for-sale debt securities $16,300. Prepare a statement of comprehensive income using the one statement format. (Ignore income taxes and earnings per share.) CORONADO CORPORATION Statement of Comprehensive Income w 2/13/2020 3 Prepare a statement of comprehensive income, using the two statement format. (Ignore income taxes...
BE4.4 (LO 2, 3) Finley Corporation had income from continuing operations of $10,600,000 in 2020. During 2020, 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 2020 (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 2020. Prepare a partial income statement for Finley beginning...
The Culver Corporation had income from continuing operations of $13 million in 2020. During 2020, it disposed of its restaurant division at a loss of $80,000 (net of tax of $38,000). Before the disposal, the division operated at a loss of $220,000 (net of tax of $135,000) in 2020. Blue Collar also had an unrealized gain-OCI of $43,000 (net of tax of $18,000) related to its FV-OCI equity investments. Culver had 10 million common shares outstanding during 2020. Prepare a...
Question 2 View Policies Current Attempt in Progress For its fiscal year ending October 31, 2022, Marigold Corp.reports the following partial data shown below. Income before income taxes $469,800 Income tax expense (20% * $365,400) 73,080 Income from continuing operations 396,720 Loss on discontinued operations 104,400 Net income $292,320 The loss on discontinued operations was comprised of a $43,500 loss from operations and a $60,900 loss from disposal. The income tax rate is 20% on all items. Prepare a correct...