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Waterway Corporation had income from continuing operations of $10,614,900 in 2025. During 2025, it disposed of its restaurant division at an after-tax loss of
Waterway Corporation had income from continuing operations of $10,614,900 in 2025. During 2025, it disposed of its restaurant division at an after-tax loss of $191.400. Prior to disposal, the division operated at a loss of $323,500 het of tax) in 2025 (assume that the disposal of the restaurant division meets the criteria for recognition as a discontinued operation). Waterway had 10,000,000 shares of common stock outstanding during 2025. Prepare a partial income statement for Waterway beginning with income from continuing operations. (Round earnings per share to 2 decimal places, e.g. 1.48.) Income from Continuing Operations Discontinued Operations Loss on Disposal of Restaurant Division WATERWAY CORPORATION Income Statement (Partial) For the Year Ended December 31, 2025 Loss from Operations of Discontinued Restaurant Division 191400 i 323500 i 10614900 $14900 Income from Continuing Operations Discontinued Operations Loss on Disposal of Restaurant Division 191400 i Loss from Operations of Discontinued Restaurant Division 323500 Net Income/(Loss) Earnings per Share Income from Continuing Operations Gain on Disposal of Restaurant Division Gain from Operations of Discontinued Restaurant Division Discontinued Operations Net Income/(Loss) 10614900 514900 10100000 0.05 1.06 101
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