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I need help answering the questions below with the given information. Problem 1 Windmoore's income statement for the year ended December 31, 2010 is as
I need help answering the questions below with the given information.
Problem 1 Windmoore's income statement for the year ended December 31, 2010 is as follows Net Sales $800,000 Less: Cost of Merchandise Sold Gross Profit Other Expenses: IS111 000 Selling Expenses 150,000 HAHAHAHA Administrative Expenses Other Income and Expenses insurance proceeds gain on casualty loss e. electrical fire) 125,000 (10,000) 115,000 Interest Expense 5.000 Net Income before taxes Less income Tax 40% (21,600) 32,400 Net In me Earnings Per Share assuming 45,000 shares outstanding Common Stock 0.72 Division A's Results of Operations were included in the financial information above. Division A was discontinued in 2010 Included below is the results of operations for Division A (only) R$300,000 Net Sales Less: Cost of Merchandise Sold Gross Profit Other Expenses: I$100,000 Selling Expenses Administrative Expenses 125,000 $225,000 Results of Discontinued OperationsStep by Step Solution
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