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Brief Exercise 4-5 Bramble Corporation had income from operations of $6,285,800. In addition, it suffered an unusual and infrequent pretax loss of $781,200 from a
Brief Exercise 4-5
Bramble Corporation had income from operations of $6,285,800. In addition, it suffered an unusual and infrequent pretax loss of $781,200 from a volcano eruption, interest revenue of $15,910, and a write-down on buildings of $50,000. The corporations tax rate is 30%. Prepare a partial income statement for Bramble beginning with Income from operations. The corporation had 4,961,500 shares of common stock outstanding during 2017. (Round earnings per share to 2 decimal places, e.g. 1.48.)
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