For the year ended December 31, 23, Oriole Corporation had income before taxes and d During the year, Oriole disposed of one of its business segments for a gain of $320,000 bef outstanding during the year. The company was subject to a 35% income tax rate. Prepare the income statement for Oriole Corporation, beginning with the line "Income from (Round earnings per share values to 2 decimal places, e.g. 15.25.)
For the year ended December 31, 23, Oriole Corporation had income before taxes and d During the year, Oriole disposed of one of its business segments for a gain of $320,000 bef outstanding during the year. The company was subject to a 35% income tax rate. Prepare the income statement for Oriole Corporation, beginning with the line "Income from (Round earnings per share values to 2 decimal places, e.g. 15.25.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:For the year ended December 31, 2023, Oriole Corporation had income before taxes and discontinued operations of $1,080,000.
During the year, Oriole disposed of one of its business segments for a gain of $320,000 before tax. Oriole had 50,000 common shares
outstanding during the year. The company was subject to a 35% income tax rate.
Prepare the income statement for Oriole Corporation, beginning with the line "Income from continuing operations before income tax."
(Round earnings per share values to 2 decimal places, e.g. 15.25.)
Basic Earnings per share:
ORIOLE Corporation
Partial Income Statement
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