Chapter 4 The Income Statement and Statement of Cash Flows25

Chapter 4 The Income Statement and Statement of Cash Flows25

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Exercise 4-6 ESQUIRE COMIC BOOK COMPANY Partial Income Statement For the Year Ended December 31, 2011 Income from continuing operations * .................................. $ 552,000 Discontinued operations: Income from operations of discontinued component (including loss on disposal of $350,000) .................................. 150,000 Income tax expense . .......................................................... 60,000 Income on discontinued operations .
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Unformatted text preview: .................................. 90,000 Net income. ........................................................................... $642,000 * Income from continuing operations: Income before considering additional items $1,000,000 Decrease in income due to restructuring costs (80,000 ) Before-tax income from continuing operations 920,000 Income tax expense (40%) (368,000 ) Income from continuing operations $ 552,000...
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This note was uploaded on 01/08/2011 for the course -2 20101 taught by Professor Georgesanchez during the Spring '10 term at USC.

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