The following Income Statement information has been obtained from the books of Unlimited Liquors Corporation for the year ended March 31, 2022. The Income tax rate is 40% and the company has 50,000 shares of common stock outstanding. Sales Revenue $890,000 Cost of Goods sold 300,000 Operating expenses 220,000 Income from discontinu
The following Income Statement information has been obtained from the books of Unlimited Liquors Corporation for the year ended March 31, 2022. The Income tax rate is 40% and the company has 50,000 shares of common stock outstanding.
Sales Revenue $890,000
Cost of Goods sold 300,000
Operating expenses 220,000
Income from discontinued operations 140,000
Loss on disposal of
discontinued operations 60,000
Determine the income or loss from discontinued operations as reported on the Income Statement:
Determine the net income or loss from the discontinued segment of the company as reported on the Income Statement:
What is the EPS of the company?
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