ACC410 E4-3 - ACC410ASolutionstoHW2 PROBLEM43 MAHERInc.

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
ACC 410A     Solutions to HW 2 PROBLEM 4-3 MAHER Inc. Income Statement (Partial) For the Year Ended December 31, 2010 Income from continuing operations  before income tax. .............................................. $838,500* Income tax. .........................................................   220,350 ** Income from continuing operations. .............................. 618,150 Discontinued operations Loss from disposal of recreational division. ........... $115,000 Less: Applicable income tax reduction. ..............     34,500     80,500 Income before extraordinary item. ................................ 537,650 Extraordinary item: Major casualty loss. ............................................ 90,000 Less: Applicable income tax reduction. ..............     41,400     48,600 Net income. ................................................................... $489,050 Per share of common stock: Income from continuing operations. ................... $5.15*
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 10/27/2010 for the course FIN 82571 taught by Professor Sharp during the Fall '10 term at CSU Sacramento.

Page1 / 3

ACC410 E4-3 - ACC410ASolutionstoHW2 PROBLEM43 MAHERInc.

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online