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Shown below is information relating to operations of Broadway Industries for 2015. Continuing operations: Net sales $6,500,000 Cost and expenses (including income taxes) $5,720,000 Other
Shown below is information relating to operations of Broadway Industries for 2015.
Continuing operations: | |
Net sales | $6,500,000 |
Cost and expenses (including income taxes) | $5,720,000 |
Other data: | |
Current-year profit generated by segment of the business discontinued in May (net of income taxes) | $542,100 |
Gain on disposal of discontinued segment (net of income taxes) | $185,900 |
Prior-period adjustment (decrease in prior years income net of tax benefit) | $347,100 |
Extraordinary loss (net of income tax benefit) | $325,000 |
Cash dividends declared ($6 per share) | $520,000 |
Complete the income statement for Broadway Industries, including earnings per share figures. Broadway Industries has 100,000 shares of a single class of common stock outstanding throughout the year.
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