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Crane Corp. has 149,580 shares of common stock outstanding. In 2025 , the company reports income from continuing operation before income tax of $1,230,600. Additional
Crane Corp. has 149,580 shares of common stock outstanding. In 2025 , the company reports income from continuing operation before income tax of $1,230,600. Additional transactions not considered in the $1,230,600 are as follows. 1. In 2025 , Crane Corp. sold equipment for $36,200. The machine had originally cost $81,600 and had accumulated depreciation of $33,000. The gain or loss is considered non-recurring. 2. The company discontinued operations of one of its subsidiaries during the current year at a loss of $190,100 before taxe Assume that this transaction meets the criteria for discontinued operations. The loss from operations of the discontinue subsidiary was $92,300 before taxes; the loss from disposal of the subsidiary was $97,800 before taxes. 3. An internal audit discovered that amortization of intangible assets was understated by $37,400( net of tax) in a prior per The amount was charged against retained earnings. 4. The company recorded a non-recurring gain of $126,000 on the condemnation of some of its property (included in the $1,230,600) Analyze the above information and prepare an income statement for the year 2025, starting with income from continuing opera before income tax. Compute earnings per share as it should be shown on the face of the income statement. (Assume a total effed tax rate of 19% on all items, unless otherwise indicated.) (Round earnings per share to 2 decimal places, e.g. 1.47.)
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