Question

Return to The following are partial income statement account balances taken from the December 31, 2021. year-end trial balance of White and Sons, Inc.: restructuring costs, $470,000; interest revenue, $57,000, before tax loss on discontinued operations, $570,000; and loss on sale of investments, $67,000. Income tax expense has not yet been recorded. The income tax rate is 25% Prepare the lower portion of the 2021 income statement beginning with $885,000 income from continuing operations before income taxes. Include appropriate EPS disclosures. The company had 100,000 shares of common stock outstanding throughout the year. (Amounts to be deducted should be indicated with a minus'sign. Round "EPS" answers to 2 decimal places.) Answer is complete but not entirely correct. WHITE AND SONS, INC. Partial Income Statement For the Year Ended December 31, 2021 Income from continuing operations before income $ 885.000 taxes Income tax expense 221,250 > > 663,750 142,500 X 521,250 X $ Income from continuing operations Loss on discontinued operations (net of tax) Net Income (loss) Earnings per share: Income from continuing operations Loss on discontinued operations Net income (loss) S 6.64 Ole 1.43 % 5.21 % $ < Prey 3 of 8 !!! Score answer > O RI E arch

Answer 1

White and Sons Inc Partial Income Statement For the Year Ended December 31, 2021 Income From Continuing Operations before income tax Income tax expense Income From Continuing Operations Loss on Discontinued Operations (net of tax) Net Income (loss) $ 885,000 $ 221,250 $ 663,750 $(427,500) $ 236,250 Earnings Per Share : Income From Continuing Operations Loss on Discontinued Operations Net Income (loss) $ $ $ 6.64 (4.28) 2.36 Note : Please comment down for any issues