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need help on what i did wrong 3onita Corp. has 150,880 shares of common stock outstanding. In 2025 , the company reports income from continuing
need help on what i did wrong
3onita Corp. has 150,880 shares of common stock outstanding. In 2025 , the company reports income from continuing operations efore income tax of $1,228,700. Additional transactions not considered in the $1,228,700 are as follows. 1. In 2025 , Bonita Corp. sold equipment for $39,200. The machine had originally cost $80,700 and had accumulated depreciation of $30,400. 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 $190,600 before taxes. Assume that this transaction meets the criteria for discontinued operations. The loss from operations of the discontinued subsidiary was $93,100 before taxes; the loss from disposal of the subsidiary was $97,500 before taxes. 3. An internal audit discovered that amortization of intangible assets was understated by $36,600 (net of tax) in a prior period. The amount was charged against retained earnings. 4. The company recorded a non-recurring gain of $126,700 on the condemnation of some of its property (included in the $1,228,700). Analyze the above information and prepare an income statement for the year 2025 , starting with income from continuing operations before income tax. Compute earnings per share as it should be shown on the face of the income statement. (Assume a total effective tax rate of 19% on all items, unless otherwise indicated.) (Round earnings per share to 2 decimal places, es. 147.) Analyze the above information and prepare an income statement for the year 2025 , starting with income from continuing operations before income tax, Compute earnings per share as it should be shown on the face of the incomestatement. (Assume a total effective Step by Step Solution
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