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The following information is obtained from the books of NoFair Corporation as of its fiscal year ended December 31, 2022. Prepare a corporate income statement
The following information is obtained from the books of NoFair Corporation as of its fiscal year ended December 31, 2022. Prepare a corporate income statement in good form including the EPS section. Sales $400,000 Selling Expenses 80,000 Administrative Expenses 125,000 Cost of Goods Sold 200,000 Discontinued Operations: Income from the Operations of Discontinued Segment 250,000 Loss on Disposal of Segment 175,000 Income Taxes Applicable 40% Outstanding capital: Common Stock of $2 par 40,000
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