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Star Corp had income from operations before tax for 2017 of $5.9 million. In addition, it suffered an unusual and infrequent loss of $1,140,000 from
Star Corp had income from operations before tax for 2017 of $5.9 million. In addition, it suffered an unusual and infrequent loss of $1,140,000 from a tornado. Of this amount, $300,000 was insured. In addition, the company realized a loss from the sale of a building amounting to $150,000. The corporations tax rate is 30%. Prepare a partial income statement for Star Corp., beginning with income from operations. The corporation had 2 million common shares outstanding during 2017. Include calculation of EPS.
**This is a partial statement***
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