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Calculator Zeus Company reports the following for the current year: Income from continuing operations before income tax $500,000 Loss from discontinued operations $90,000 Weighted average
Calculator Zeus Company reports the following for the current year: Income from continuing operations before income tax $500,000 Loss from discontinued operations $90,000 Weighted average number of common shares outstanding 40,000 Applicable tax rate 40 % Net of any tax effect Required: 1. Prepare a partial income statement for Zeus Company beginning with income from continuing operations before income tax. Zeus Inc. Partial Income Statement For the Year Ended December 31 2. Calculate the earnings per common share for Zeus, including per-share amount for unusual items. Round your answers to two decimal places. Zeus Inc. Partial Income Statement For the Year Ended December 31 Earnings per common share: Income from continuing operations Loss from discontinued operations Net Income
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