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Presented below is financial information of the Blossom Corporation for 2025: Net sales $22,500,000 Cost of goods sold 15,500,000 Loss on disposal of wholesale
Presented below is financial information of the Blossom Corporation for 2025: Net sales $22,500,000 Cost of goods sold 15,500,000 Loss on disposal of wholesale division 335,000 Interest revenue 52,500 Loss on operations of wholesale division 345,000 Selling and administrative expenses 4,100,000 Dividends declared on common stock 170,000 Write off of goodwill 390,000 Dividends declared on preferred stock 58,000 Gain on the sale of investments 80,000 The effective tax rate on all items is 20% Blossom Corporation decided to discontinue its wholesale operations and and retain its manufacturing operations. On July 1, Blossom sold the wholesale operations. In 2025, there were 800,000 shares of common stock outstanding all year. Compute each of the following: (Round earnings per share answer to 2 decimal places, eg. 5.25 and all other answers to O decimal places, es 5,275) 1. Income from operations $ 2 Income before income tax $ 3. Income from continuing operations $ 4. Net income $ 5. Earnings per share for net income
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