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Question 1: Question 2: Expenses Selling Expenses 294600 Other Expenses and Losses Interest Expense Income before Income Tax 431200 Income Tax Expense Net Income /
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Expenses Selling Expenses 294600 Other Expenses and Losses Interest Expense Income before Income Tax 431200 Income Tax Expense Net Income / (Loss) \begin{tabular}{l} $01840 \\ \hline \end{tabular} Earnings per Share Blossom Corporation had income from continuing operations of $10,895,300 in 2025 . During 2025 , it disposed of its restaurant division at an after-tax loss of $194,400. Prior to disposal, the division operated at a loss of $321,800 (net of tax) in 2025 (assume tha the disposal of the restaurant division meets the criteria for recognition as a discontinued operation). Blossom had 10,000,000 shares of common stock outstanding during 2025. Prepare a partial income statement for Blossom beginning with income from continuing operations. (Round earnings per share to 2 decimal places, e.g. 1.48.) Vaughn Corporation had net sales of $2,413,000 and interest revenue of $34,000 during 2025. Expenses for 2025 were cost of goods sold $1,455,300, administrative expenses $212,700, selling expenses $294,600, and interest expense $53,200. Vaughn's tax rate is 30%. The corporation had 107,700 shares of common stock authorized and 60,368 shares issued and outstanding during 2025. Prepare a condensed multiple-step income statement for Vaughn Corporation. (Round earnings per share to 2 decimal places, e.g. 1.48.)Step by Step Solution
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