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Please Show work for me and fix my errors The following information is related to Kingbird Company for 2020. Kingbird Company decided to discontinue its
Please Show work for me and fix my errors
The following information is related to Kingbird Company for 2020. Kingbird Company decided to discontinue its entire wholesale operations (considered a discontinued operation) and to retain its manufacturing operations. On September 15, Kingbird sold the wholesale operations to Rogers Company. During 2020, there were 500,000 shares of common stock outstanding all year. Prepare a multiple-step income statement. (Round earnings per share to 2 decimal places, e.g. 1.49.) KINGBIRD COMPANY Income Statement For the Year Ended December 31, 2020 Sales Revenue $32500000 Cost of Goods Sold Gross Profit/ (Loss) 20800000 Selling and Administrative Expenses Income from Operations 6110000 Other Revenues and Gains Interest Revenue $91000 Gain on the Sale of Investments 1066000 Other Expenses and Losses Write-off of Goodwill Loss from Flood Damage Income from Continuing Operations Before Income Tax Income Tax Income from Continuing Operations Discontinued Operations Loss on Operations, Net of Applicable Tax Loss on Disposal, Net of Applicable Tax Net Income / (Loss) Earnings Per Share Income from Continuing Operations Discontinued Operations Loss on Operations, Net of Applicable Tax $ Loss on Disposal, Net of Applicable Tax Net Income / (Loss)Step by Step Solution
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