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Kingbird Corporation had income from continuing operations of $11,600,000 in 2017. During 2017, it disposed of its restaurant division at an after-tax loss of $203,000.
Kingbird Corporation had income from continuing operations of $11,600,000 in 2017. During 2017, it disposed of its restaurant division at an after-tax loss of $203,000. Prior to disposal, the division operated at a loss of $472,000 (net of tax) in 2017 (assume that the disposal of the restaurant division meets the criteria for recognition as a discontinued operation). Kingbird had 10,000,000 shares of common stock outstanding during 2017. Prepare a partial income statement for Kingbird beginning with income from continuing operations. (Round earnings per share to 2 decimal places, e.g. 1.48.) KINGBIRD CORPORATION Income Statement (Partial)
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