Finley Corporation had income from continuing operations of $10,600,000 in 2025. During 2025, 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 2025 (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 2025. Prepare a partial income statement for Finley beginning with income from continuing operations. (Round earnings per share to 2 decimal places, e.g. 1.48.)

Finley Corporation had income from continuing operations of $10,600,000 in 2025. During 2025, 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 2025 (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 2025. Prepare a partial income statement for Finley beginning with income from continuing operations. (Round earnings per share to 2 decimal places, e.g. 1.48.)

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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