The Pina Colada Corporation had income from continuing operations of $12 million in 2020. During 2020, it disposed of its restaurant division at a loss of $88,000 (net of tax of $38,000). Before the disposal, the division operated at a loss of $212,000 (net of tax of $135,000) in 2020. Blue Collar also had an unrealized gain-OCI of $41,000 (net of tax of $18,000) related to its FV-OCI equity investments. Pina Colada had 10 million common shares outstanding during 2020.

Prepare partial statement of financial performance for Pina Colada, beginning with income from continuing operations.

Pina Colada Corporation

Partial Statement of Comprehensive Income

choose the accounting period

For the Year Ended December 31, 2020

December 31, 2020

For the Month Ended December 31, 2020

select a comprehensive income item

Other Comprehensive Income

Comprehensive income

Gross Profit / (Loss)

Income from Continuing Operations

Discontinued Operations

Net Income / (Loss)

$enter a dollar amount

select an opening name for section one

Discontinued Operations

Income from Continuing Operations

Net Income / (Loss)

Other Comprehensive Income

Gross Profit / (Loss)

Comprehensive income

select a comprehensive income item

Gain from Operation of discontinued Restaurant Division (Net of Tax)

Unrealized Gain on FV-OCI Investments (Net of Tax)

Loss from Disposal of Restaurant Division (Net of Tax)

Loss from Operation of discontinued Restaurant Division (Net of Tax)

Gain from Disposal of Restaurant Division (Net of Tax)

Loss on FV-OCI Investments (Net of Tax)

$enter a dollar amount

select a comprehensive income item

Gain from Disposal of Restaurant Division (Net of Tax)

Loss on FV-OCI Investments (Net of Tax)

Unrealized Gain on FV-OCI Investments (Net of Tax)

Loss from Operation of discontinued Restaurant Division (Net of Tax)

Gain from Operation of discontinued Restaurant Division (Net of Tax)

Loss from Disposal of 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

Other Comprehensive Income

Income from Continuing Operations

Discontinued Operations

Net Income / (Loss)

Gross Profit / (Loss)

Comprehensive income

enter a total amount for the first part

select an opening name for section two

Gross Profit / (Loss)

Discontinued Operations

Other Comprehensive Income

Comprehensive income

Income from Continuing Operations

Net Income / (Loss)

Items that will not be reclassified subsequently to net income or loss:

select a comprehensive income item

Loss from Operation of discontinued Restaurant Division (Net of Tax)

Gain from Disposal of Restaurant Division (Net of Tax)

Loss on FV-OCI Investments (Net of Tax)

Unrealized Gain on FV-OCI Investments (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

select a closing name for this statement

Gross Profit / (Loss)

Net Income / (Loss)

Income from Continuing Operations

Other Comprehensive Income

Comprehensive income

Discontinued 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:select a comprehensive income item

Discontinued Operations

Income from Continuing Operations

Other Comprehensive Income

Comprehensive income

Net Income

$enter a dollar amount per share rounded to 2 decimal places

select a comprehensive income item

Net Income

Comprehensive income

Discontinued Operations

Income from Continuing Operations

Other Comprehensive Income

enter a dollar amount per share rounded to 2 decimal places

select a comprehensive income item

Income from Continuing Operations

Net Income

Comprehensive income

Discontinued Operations

Other Comprehensive Income

$enter a total amount