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BE4.7 (LO2, 3) Finley pic had income from continuing operations of 10,600,000 in 2019. During 2019, it disposed of its restaurant division at an after-tax
BE4.7 (LO2, 3) Finley pic had income from continuing operations of 10,600,000 in 2019. During 2019, it disposed of its restaurant division at an after-tax loss of 189,000. Prior to disposal, the division operated at a loss of 315,000 (net of tax) in 2019. Finley had 10,000,000 shares outstanding during 2019. Prepare a partial income statement for Finley beginning with income from continuing operations. BE4.13 (LO5) On January 1, 2019, Otano Ltd. had cash and share capital of 60,000,000. At that date, the company had no other asset, liability, or equity balances. On January 2, 2019, it purchased for cash 20,000,000 of equity securities that it classified as non-trading. It received cash dividends of $3,000,000 during the year on these securities. In addition, it has an unrealized holding gain on these securities of $4,000,000 (net of tax). Determine the following amounts for 2019: (a) net income, (b) comprehensive income, (c) other comprehensive income, and (d) accumulated other comprehensive income (end of 2019)
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