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.)

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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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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LA
GA
$
GA
$
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 < < > < LA GA $ GA $
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