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Coronado Corporation had income fron continuing operations of $10,661,000 in 2017. During 2017, t disposed of its restaurant division at an after-tax loss of $190,500.
Coronado Corporation had income fron continuing operations of $10,661,000 in 2017. During 2017, t disposed of its restaurant division at an after-tax loss of $190,500. Prior to disposal, the division operated at a loss of $321,600 (net of tax) in 2017 (assume that the disposal of the restaurant division meets the criteria for recognition as a discontinued operation). Coronado had 10,000,000 shares of common stock outstanding duing 2017. Prepare a partial income statement for Coronado beginning with income from continuing operations. (Round earnings per share to 2 decimal places, e.g. 1.48.) CORONADO CORPORATION Income Statement (Partial) For the Year Ended December 31, 2017 Income From Continuing Operations 106610 Discontinued Operations Loss From Operation of Discontinued Restaurant Division Net of Tax 190500 Loss From Disposal of Restaurant Division Net of Tax 321600 512100 Earnings Per Share 101489 Discontinued Operations, Net of Tax Loss From Operation of Discontinued Restaurant Division Net of Tax Discontinued Operations, Net of Tax Net Income (Loss)
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