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The Bridgeport Corporation had income from continuing operations of $12.4 million in 2023. During 2023, it disposed of its restaurant division at a loss of
The Bridgeport Corporation had income from continuing operations of $12.4 million in 2023. During 2023, 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 2023. Bridgeport also had an unrealized gain-OCl of $44,000 (net of tax of $18,000 ) related to its FV-OCl equity investments. Bridgeport had 10 million common shares outstanding during 2023. Prepare a partial statement of financial performance for Bridgeport, beginning with income from continuing operations. Items that will not be recycled subsequently to net income or loss: Calculate earnings per share. (Round answers to 2 decimal places, e.g. 52.75.)
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