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Income statement
From the following data for Nunn Company for the current fiscal year ended December 31, prepare a multiple-step income statement. Show parenthetically earnings per share for the following: income from continuing operations, loss on discontinued operations (less applicable income tax), income before extraordinary item, extraordinary item (less applicable income tax), and net income.
Common stock, $50 par $200,000 Cost of merchandise sold 252,000 Administrative expenses 48,250 Income tax (applicable to continuing operations) 142,000 Interest expense 3,750 Loss on discontinued operations, Net of applicable tax of $2,700 5,400 Sales 775,000 Selling expenses 83,000 Uninsured flood loss, net of applicable Income tax of $4,500 14,000 Need help asap! |
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You might want to check out this thread, as there's some info in there: https://www.askmehelpdesk.com/accoun...fo-224643.html |
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