Sh8Please help me. Thankyou Whispering Winds Corporation's pre-tax accounting income of $739,000 for the year 2023 included the following items:Amortization of identifiable intangiblesDepreciation of buildingLoss from discontinued operationsUnusual, non-recurring gainsProfit-sharing payments to employees$142,000117,000Normalized earnings45,000159,00068,700Ewing Industries Ltd. would like to purchase Whispering Winds. In trying to measure Whispering Winds's normalized earnings for2023, Ewing determines that the building's fair value is triple the book value and that its remaining economic life is double the life thatWhispering Winds is using. Ewing would continue the profit-sharing payments to employees, with the payments being based onincome from continuing operations before amortization and depreciation.Calculate the 2023 normalized earnings amount of Whispering Winds that Ewing would use to calculate goodwill.

Introduction Normalized earnings are earnings that do not include or which are adjusted to…

Answered: Calculate the 2023 normalized earnings…

Calculate the 2023 normalized earnings amount of Whispering Winds that Ewing would use to calculate goodwill. Normalized earnings

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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