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Income Statement Pallest Corporation reported the following pretax information for its current fiscal year: $30,000 income from continuing operations and an $6,000 loss arising from

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Income Statement Pallest Corporation reported the following pretax information for its current fiscal year: $30,000 income from continuing operations and an $6,000 loss arising from discontinuing segment it was simply doned, no gain or loss on sale). Pallest is subject to a 30% income tax rate and had 6,000 shares of common stock outstanding for the year. Starting with pretax income from continuing operations, prepare a partial income statement for Pallest for the current year. Be sure to teclude earnings per share information. Round earnings per share computations to the nearest cent. PALLEST CORPORATION Income Statement (Partial) For Year Ended December 31, Current Year Pretax come from continuing operations 10,000 Income tax expense 6,000 X Income from continuing operations Los from discontinued operations (niet oftas) Net Income Components of Income Income from continuang operations Loss from discontinued operation EPS Net incon

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