What is Income from Continuing Operations?
What is Net Income?
What is Income from continuing operations, per share of common stock?
What is Income from discontinued operations, per share of common stock?
Excel File Edit View Insert Format Tools Data Window Help 90% Mon 12:09 PM QE O.. AutoSave . OFF Ch4_2_ClassExample Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments Liberation sans 11 A A E ap Wrap Text v General Insert v x Delete v 2 x AY - O. Paste OvAv Merge & Center v $ ~ % " Conditional Format Cell Sort & Sensitivity Formatting as Table Styles Format Find & Ideas Filter Select N5 B C D E F G H J K L M N P Q R S T U Pawston Market is a company that offers the highest quality rotisserie chicken for dogs. The company has historically operated through its restaurant locations and its products offered in the fresh food section at specialty supermarkets 4 Assume that you are the accountant and it is the first quarter of 2021. You are preparing the income statement for the year ended 12/31/20. In March, the 5 |company realized that its restaurant business was not generating any sales and on April 12, 2020, the company sold its restaurant division and focused instead 6 on its specialty supermarket product offerings 8 The following information relates to Pawston Market for 2020; 9 Sales revenue 25,000,000 10 Cost of goods sold 16,000,000 11 Dividends declared on common stock 250,000 12 Dividends declared on preferred stock 80,000 13 Gain on sale of investments 10,000 14 Gain on the sale of discontinued component, net of tax 90,000 15 Income tax expense 1,244,000 16 Interest revenue 70,000 17 Loss due to flood damage 390,000 18 Loss on the sale of discontinued operations, net of tax 440,000 19 Selling, general and administrative expenses 4,700,000 20 21 Number of shares of preferred stock 1,600,000 22 Number of shares of common stock 950,000 23 4 Based on this information, calculate the following amounts and use the link to the Google Form to submit answers: 25 https://docs.google.com/forms/d/c/1FAlpQLSffQnHOEzyYVypMSWItOKmh8lv8LOax84QtP4k7hLgvqofDjw/viewform?usp=sf_link 26 Income from continuing operations 27 Net income Income from continuing operations, per share of common stock 29 Income from discontinued operations, per share of common stock 30 Net income per share of common stock 31 32 33 34 35 36 37 38 39 Pawlenciaga Pawlenciaga Part 2 Pawston Market + Ready + 100% P OCT 5 W X itv 4 11
