Apex Inc. reports the following for a recent year: Income from continuing operations before income tax $1,780,000 Loss from discontinued operations $230,000* Weighted average number of shares outstanding 10,000 Applicable tax rate 40% *Net of any tax effect A. Prepare a partial income statement for Apex Inc., beginning with income from continuing operations before income tax.** B. Determine the earnings per common share for Apex Inc., including per-share amounts for unusual items.
Apex Inc. reports the following for a recent year: Income from continuing operations before income tax $1,780,000 Loss from discontinued operations $230,000* Weighted average number of shares outstanding 10,000 Applicable tax rate 40% *Net of any tax effect A. Prepare a partial income statement for Apex Inc., beginning with income from continuing operations before income tax.** B. Determine the earnings per common share for Apex Inc., including per-share amounts for unusual items.
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 22BEA: The income statement, statement of retained earnings, and balance sheet for Somerville Company are...
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Apex Inc. reports the following for a recent year:
Income from continuing operations before income tax | $1,780,000 |
Loss from discontinued operations | $230,000* |
Weighted average number of shares outstanding | 10,000 |
Applicable tax rate | 40% |
*Net of any tax effect |
A. | Prepare a partial income statement for Apex Inc., beginning with income from continuing operations before income tax.** | ||
B. | Determine the earnings per common share for Apex Inc., including per-share amounts for unusual items.**
|
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