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Vilka [71]
2 years ago
7

Finley Corporation had income from continuing operations of $10,600,000 in 2014. During 2014, it disposed of its restaurant divi

sion at an after-tax loss of $189,000. Prior to disposal, the division operated at a loss of $315,000 (net of tax) in 2014. Finley had 10,000,000 shares of common stock outstanding during 2014. Prepare a partial income statement for Finley beginning with income from continuing operations.
Business
1 answer:
gulaghasi [49]2 years ago
3 0

Answer:

The answer is "$1.01"

Explanation:

Revenue from operations $10,600,000

Operations discontinued

Loss of discontinued operation

Division of restaurant (net of tax)

$315,000

Loss of diner disposal

division (net of tax)

189,000

504,000

$10,096,000 in net income

Start sharing income

Revenue from operations $1.06

Net of tax (0.05)* Discontinued transactions

$1.01 Net Revenue

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