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Reporting Discontinued Operations-Disposal in Subsequent Year On October 1 of the current year, Blain Company approved a formal plan to seli the Mckiay Dision considered

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Reporting Discontinued Operations-Disposal in Subsequent Year On October 1 of the current year, Blain Company approved a formal plan to seli the Mckiay Dision considered a component of the business. The sale will occur on March 31 of the following year. The division had operating income of $750.000 (pretax) for the year ended December 39 , but expects to incur an operating lo5s of $150,000 for the first quarter of next year. Blain determines the carrying value and fair value (net of selling costs) of the Mckay Divsion to be 57.500,000 and $7.200,000, respectively, on December 31 . Blain's tax rate for the year is 25%. Weighted average number of common shares outstanding in the current year is 450,000 Required a. Assume Blain Companys income from contnuing operations is 33.450,000 lafter tam in the current year, Prepare a partial income statement beginning with income from continuing operations, include earnings per share disclosures. - Use a negative sugn to ind cate a loss. - Enter the answers for per share amounts in dollars and cents, rounded to the nearest perny 6. How does the answer to part a change if the fali value of the Mckay Divisions net assets were 57,800,000 instead of $7,200,000 on December 31 ? - Use a negative sian to indicate a ioss. - Enter the answers for per share arnounts in dollars and cents. rauniart in wa pearest penny. Reporting Discontinued Operations-Disposal in Subsequent Year On October 1 of the current year, Blain Company approved a formal plan to seli the Mckiay Dision considered a component of the business. The sale will occur on March 31 of the following year. The division had operating income of $750.000 (pretax) for the year ended December 39 , but expects to incur an operating lo5s of $150,000 for the first quarter of next year. Blain determines the carrying value and fair value (net of selling costs) of the Mckay Divsion to be 57.500,000 and $7.200,000, respectively, on December 31 . Blain's tax rate for the year is 25%. Weighted average number of common shares outstanding in the current year is 450,000 Required a. Assume Blain Companys income from contnuing operations is 33.450,000 lafter tam in the current year, Prepare a partial income statement beginning with income from continuing operations, include earnings per share disclosures. - Use a negative sugn to ind cate a loss. - Enter the answers for per share amounts in dollars and cents, rounded to the nearest perny 6. How does the answer to part a change if the fali value of the Mckay Divisions net assets were 57,800,000 instead of $7,200,000 on December 31 ? - Use a negative sian to indicate a ioss. - Enter the answers for per share arnounts in dollars and cents. rauniart in wa pearest penny

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