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Chance Company had two operating divisions, one manufacturing farm equipment and the other office supplies Both divisions are considered separate components as defined by generally
Chance Company had two operating divisions, one manufacturing farm equipment and the other office supplies Both divisions are considered separate components as defined by generally accepted accounting ples The qument component had been unprofitable and on September 2021 the company adopted a plan to see the assets of the d on The actual cale was completed on December 15, 2021 at a price of $600.000 The book value of the division s ets was 1000.000 resulting in a before tax loss of $400 000 on the sale The division incurred a before-tex operating loss from operations of $120,000 from the beginning of the year through December 15 The income tax rates 25 Chance's after tax income from its continuing operations is $550.000 Required: Prepare ancome statement for 2021 beginning with income from continuing operations include appropriate EPS disclosures assuming that 100.000 shares of common stock were outstanding throughout the year Amounts to be deducted should be indicated with a minus sign. Round EPS answers to 2 decimal places.)
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