The following are partial income statement account balances taken from the De Sons, Incorporated: restructuring costs, $460,000; interest revenue, $56,000; b and loss on sale of investments, $66,000. Income tax expense has not yet beer Prepare the lower portion of the 2024 income statement beginning with $880,0 axes. Include appropriate EPS disclosures. The company had 100,000 shares o Note: Loss amounts should be indicated with a minus sign. Round "EPS" ans WHITE AND SONS. INCORPORATED
The following are partial income statement account balances taken from the De Sons, Incorporated: restructuring costs, $460,000; interest revenue, $56,000; b and loss on sale of investments, $66,000. Income tax expense has not yet beer Prepare the lower portion of the 2024 income statement beginning with $880,0 axes. Include appropriate EPS disclosures. The company had 100,000 shares o Note: Loss amounts should be indicated with a minus sign. Round "EPS" ans WHITE AND SONS. INCORPORATED
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:The following are partial income statement account balances taken from the December 31, 2024, year-end trial balance of White and
Sons, Incorporated: restructuring costs, $460,000; interest revenue, $56,000; before-tax loss on discontinued operations, $560,000;
and loss on sale of investments, $66,000. Income tax expense has not yet been recorded. The income tax rate is 25%.
Prepare the lower portion of the 2024 income statement beginning with $880,000 income from continuing operations before income
taxes. Include appropriate EPS disclosures. The company had 100,000 shares of common stock outstanding throughout the year.
Note: Loss amounts should be indicated with a minus sign. Round "EPS" answers to 2 decimal places.
WHITE AND SONS, INCORPORATED
Partial Income Statement
For the Year Ended December 31, 2024
Income from continuing operations before income taxes
Income from continuing operations
Earnings per share:
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