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Please show the numbers are computed Chance Company had two operating divisions, one manufacturing farm equipment and the other office supplies. Both divisions are considered

image text in transcribedPlease show the numbers are computed

Chance Company had two operating divisions, one manufacturing farm equipment and the other office supplies. Both divisions are considered separate components as defined by generally accepted accounting principles. The farm equipment component had been unprofitable, and on September 1, 202 the company adopted a plan to sell the assets of the division. Consider the following: - The actual sale was completed on December 15,2024 , at a price of $700,000. The book value of division's assets was $1,210,000, resulting in a before-tax loss of $510,000 on the sale. - The division incurred a before-tax operating loss from operations of $180,000 from the beginning the year through December 15. - Chance's after-tax income from its continuing operations is $650,000. - The income tax rate is 25%. Required: Prepare an income statement beginning with income from continuing operations. Include appropriate E disclosures assuming that 100,000 shares of common stock were outstanding throughout the year. Note that "Income/Loss from operations of discontinued component" includes: 1) income/loss from operations, and 2) gain/loss on disposal or impairment loss. Note: Amounts to be deducted should be indicated with a minus sign. Round EPS answers to 2 deci places

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