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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, $430,000; interest revenue, $53,000; before-tax loss on discontinued operations, $530,000 and loss on sale of investments, $63,000. 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 $865,000 income from continuing operations before incom- taxes. Include appropriate EPS disclosures. The company had 150,000 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

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, $430,000; interest revenue, $53,000; before-tax loss on discontinued operations, $530,000 and loss on sale of investments, $63,000. 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 $865,000 income from continuing operations before incom- taxes. Include appropriate EPS disclosures. The company had 150,000 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

FINANCIAL ACCOUNTING
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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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, $430,000; interest revenue, $53,000; before-tax loss on discontinued operations, $530,000; and loss on sale of investments, $63,000. 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 $865,000 income from continuing operations before income taxes. Include appropriate EPS disclosures. The company had 150,000 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
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, $430,000; interest revenue, $53,000; before-tax loss on discontinued operations, $530,000; and loss on sale of investments, $63,000. 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 $865,000 income from continuing operations before income taxes. Include appropriate EPS disclosures. The company had 150,000 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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