Question
Presented below are selected ledger accounts of Tucker Corporation as of December 31, 2014 Cash $62,000 Administrative expenses 105,600 Selling expenses 80,900 Net sales 553,600
Presented below are selected ledger accounts of Tucker Corporation as of December 31, 2014
Cash $62,000
Administrative expenses 105,600
Selling expenses 80,900
Net sales 553,600
Cost of goods sold 263,300
Cash dividends declared (2014) 20,700
Cash dividends paid (2014) 18,900
Discontinued operations (loss before income taxes) 48,600
Depreciation expense, not recorded in 2013 33,800
Retained earnings, December 31, 2013 98,600
Effective tax rate 30%
Net Income for 2014 38,640
Prepare a partial income statement beginning with income from continuing operations before income tax, and including appropriate earnings per share information. Assume 19,200 shares of common stock were outstanding during 2014.
TUCKER CORPORATION Income Statement For the Year Ended December 31, 2014
Income from Continuing Operations before Income Tax ??
Income Tax ??
Income from Continuing Operations ??
Discontinued Operations, Net of Tax ??
Net Income (Loss) ??
Earnings Per Share:
Income from Continuing Operations ??
?? ??
Net Income/(Loss) ??
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