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Bonita Corporation had income from continuing operations of $10,653,500 in 2017. During 2017, it disposed of its restaurant division at an after-tax loss of $200,300.
Bonita Corporation had income from continuing operations of $10,653,500 in 2017. During 2017, it disposed of its restaurant division at an after-tax loss of $200,300. Prior to disposal, the division operated at a loss of $321,100 (net of tax) in 2017 (assume that the disposal of the restaurant division meets the criteria for recognition as a discontinued operation). Bonita had 10,000,000 shares of common stock outstanding during 2017. Prepare a partial income statement for Bonita beginning with income from continuing operations.
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