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64. Given the following information about a corporation's current year activities, answer the questions below: (5 points) Sales $250,000 Cost of goods sold 90.000 Other
64. Given the following information about a corporation's current year activities, answer the questions below: (5 points) Sales $250,000 Cost of goods sold 90.000 Other operating expenses 54,000 Depreciation expense 20,000 Loss from sale of equipment 12.000 Interest revenue 5,000 Gain from lawsuit 25.000 Interest Expense 3.000 30,800 Income from operations of discontinued division net of 9.200 tax 45,000 Loss from disposal of discontinued division net of 15,000 tax benefit Loss from storm 37,000 Prepare an income statement as we did in class using an income tax rate of 25%. The income statement should present the following: (1) Income from continuing operations (2) Income before extraordinary items (3) Income before taxes (4) Net income after taxes (5) Earnings per share with number of shares outstanding 105.000
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