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PROBLEM 2 Discontinued Operations INSTRUCTIONS: Prepare a partial income statement starting with income from continuing operations. Assume a 30% tax rate. Income from continuing operations
| PROBLEM 2 | Discontinued Operations | ||
| INSTRUCTIONS: Prepare a partial income statement starting with income from | |||
| continuing operations. Assume a 30% tax rate. | |||
| Income from continuing operations | 6,000 | ||
| Disposed of restaurant division at an pre- tax gain | 2,000 | ||
| Operating loss of restaurant division (pre- tax) | 1,200 | ||
| Shares of Common stock outstanding during the year | 1,000 | ||
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Introduction To Corporate Finance
Authors: Laurence Booth, Sean Cleary
3rd Edition
978-1118300763, 1118300769
