Concord Corporation had income from continuing operations of $10,691,500 in 2025. During 2025, it disposed of its restaurant division at an after-tax loss of $203,300. Prior to disposal, the division operated at a loss of $316,500 (net of tax) in 2025 (assume tha the disposal of the restaurant division meets the criteria for recognition as a discontinued operation). Concord had 10,000,000 share of common stock outstanding during 2025. Prepare a partial income statement for Concord beginning with income from continuing operations. (Round earnings per share to 2 decimal places, e.g. 1.48.) Income from Continuing Operations Discontinued Operations Loss from Operations of Discontinued Restaurant Division V $ Loss on Disposal of Restaurant Division Net Income /(Loss) Earnings per Share Income from Continuing Operations Loss on Disposal of Discontinued Operations CONCORD CORPORATION Income Statement (Partial) For the Year Ended December 31, 2025 Gain from Operations of Discontinued Restaurant Division Discontinued Operations Net Income /(Loss) $ 316500 i 203300 i 0.52 1.02 $ $ $ $ 10691500 519800 i 10171700 1.07 0.05 i 1.02

Concord Corporation had income from continuing operations of $10,691,500 in 2025. During 2025, it disposed of its restaurant division at an after-tax loss of $203,300. Prior to disposal, the division operated at a loss of $316,500 (net of tax) in 2025 (assume tha the disposal of the restaurant division meets the criteria for recognition as a discontinued operation). Concord had 10,000,000 share of common stock outstanding during 2025. Prepare a partial income statement for Concord beginning with income from continuing operations. (Round earnings per share to 2 decimal places, e.g. 1.48.) Income from Continuing Operations Discontinued Operations Loss from Operations of Discontinued Restaurant Division V $ Loss on Disposal of Restaurant Division Net Income /(Loss) Earnings per Share Income from Continuing Operations Loss on Disposal of Discontinued Operations CONCORD CORPORATION Income Statement (Partial) For the Year Ended December 31, 2025 Gain from Operations of Discontinued Restaurant Division Discontinued Operations Net Income /(Loss) $ 316500 i 203300 i 0.52 1.02 $ $ $ $ 10691500 519800 i 10171700 1.07 0.05 i 1.02

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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