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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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Financial And Accounting Principles In Islamic Finance
Authors: Samir Alamad
1st Edition
3030162982, 9783030162986
