Question

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 partial income statement for Sunland beginning with income from continuing operations. (Round earnings per share to 2 decimal places, e.g. 1.48.) SUNLAND CORPORATION Income Statement (Partial) For the Year Ended December 31, 2020 Income From Continuing Operations $ $10,863,600 Discontinued Operations Loss From Disposal of Restaurant Division Net of Tax $ (207500) i Loss From Operation of Discontinued Restaurant Division Net of Tax (325000) i (532500) Net Income /(Loss) $ 10331100 Earnings Per Share Discontinued Operations, Net of Tax $ 1.03 Income From Continuing Operations (0.05) Net Income /(Loss) $ 1.03

Answer 1

Earning per share
Discontinued operation before tax ($532,500/10,000,000)	$ (0.05)
Income from continuing operation ($10,863,600/10,000,0000)	$    1.09
Net income	$    1.03

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