Question
The Bridgeport Corporation had income from continuing operations of $12 million in 2020. During 2020, it disposed of its restaurant division at a loss of
The Bridgeport Corporation had income from continuing operations of $12 million in 2020. During 2020, it disposed of its restaurant division at a loss of $98,000 (net of tax of $38,000). Before the disposal, the division operated at a loss of $202,000 (net of tax of $135,000) in 2020. Blue Collar also had an unrealized gain-OCI of $44,000 (net of tax of $18,000) related to its FV-OCI equity investments. Bridgeport had 10 million common shares outstanding during 2020.
Prepare a partial statement of financial performance for Bridgeport, beginning with income from continuing operations.
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