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The Ayayai Corporation had income from continuing operations of $ 12 million in 2020. During 2020, it disposed of its restaurant division at a loss
The Ayayai Corporation had income from continuing operations of $12million in 2020. During 2020, it disposed of its restaurant division at a loss of $75,000 (net of tax of $38,000). Before the disposal, the division operated at a loss of $225,000 (net of tax of $135,000) in 2020. Ayayai also had an unrealized gain-OCI of $40,000 (net of tax of $18,000) related to its FV-OCI equity investments. Ayayai had 10million common shares outstanding during 2020.
Prepare a partial statement of financial performance for Ayayai, beginning with income from continuing operations.
Calculate earnings per share. (Round answers to 2 decimal places, e.g. 52.75.)
Prepare a partial statement of financial performance for Ayayai, beginning with income from continuing operations.
Ayayai Corporation Partial Statement of Comprehensive Income choose the accounting period For the Month Ended December 31, 2020For the Year Ended December 31, 2020December 31, 2020 | ||||
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select a comprehensive income item Comprehensive incomeDiscontinued OperationsOther Comprehensive IncomeGross Profit / (Loss)Net Income / (Loss)Income from Continuing Operations | $enter a dollar amount | |||
select an opening name for section one Other Comprehensive IncomeIncome from Continuing OperationsComprehensive incomeDiscontinued OperationsGross Profit / (Loss)Net Income / (Loss) | ||||
select a comprehensive income item Unrealized Gain on FV-OCI Investments (Net of Tax)Loss on FV-OCI Investments (Net of Tax)Loss from Disposal of Restaurant Division (Net of Tax)Gain from Disposal of Restaurant Division (Net of Tax)Loss from Operation of discontinued Restaurant Division (Net of Tax)Gain from Operation of discontinued Restaurant Division (Net of Tax) | $enter a dollar amount | |||
select a comprehensive income item Unrealized Gain on FV-OCI Investments (Net of Tax)Loss on FV-OCI Investments (Net of Tax)Loss from Operation of discontinued Restaurant Division (Net of Tax)Gain from Disposal of Restaurant Division (Net of Tax)Loss from Disposal of Restaurant Division (Net of Tax)Gain from Operation of discontinued Restaurant Division (Net of Tax) | enter a dollar amount | |||
enter a subtotal of the two previous amounts | ||||
select a summarizing line for the first part Income from Continuing OperationsOther Comprehensive IncomeGross Profit / (Loss)Comprehensive incomeDiscontinued OperationsNet Income / (Loss) | enter a total amount for the first part | |||
select an opening name for section two Discontinued OperationsNet Income / (Loss)Comprehensive incomeGross Profit / (Loss)Income from Continuing OperationsOther Comprehensive Income | ||||
Items that will not be reclassified subsequently to net income or loss: | ||||
select a comprehensive income item Loss from Disposal of Restaurant Division (Net of Tax)Loss from Operation of discontinued Restaurant Division (Net of Tax)Unrealized Gain on FV-OCI Investments (Net of Tax)Gain from Disposal of Restaurant Division (Net of Tax)Loss on FV-OCI Investments (Net of Tax)Gain from Operation of discontinued Restaurant Division (Net of Tax) | enter a dollar amount | |||
select a closing name for this statement Gross Profit / (Loss)Net Income / (Loss)Comprehensive incomeOther Comprehensive IncomeDiscontinued OperationsIncome from Continuing Operations | $enter a total amount for this statement |
Calculate earnings per share. (Round answers to 2 decimal places, e.g. 52.75.)
Earnings Per Share: | ||
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select a comprehensive income item Other Comprehensive IncomeComprehensive incomeDiscontinued OperationsIncome from Continuing OperationsNet Income | $enter a dollar amount per share rounded to 2 decimal places | |
select a comprehensive income item Net IncomeIncome from Continuing OperationsOther Comprehensive IncomeComprehensive incomeDiscontinued Operations | enter a dollar amount per share rounded to 2 decimal places | |
select a comprehensive income item Other Comprehensive IncomeDiscontinued OperationsComprehensive incomeNet IncomeIncome from Continuing Operations |
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