The Blue Collar Corporation had income from continuing operations of $12.6 million in 2017. During 2017, it
Question:
The Blue Collar Corporation had income from continuing operations of $12.6 million in 2017. During 2017, it disposed of its restaurant division at an after-tax loss of $89,000. Before the disposal, the division operated at a loss of $315,000 (net of tax) in 2017. Blue Collar also had an unrealized gain-OCI of $43,000 (net of tax) related to its FV-OCI investments. Blue Collar had 10 million common shares outstanding during 2017. Prepare a partial statement of comprehensive income for Blue Collar, beginning with income from continuing operations. Include calculation of EPS.
CorporationA Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
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Intermediate Accounting
ISBN: 978-1119048534
11th Canadian edition Volume 1
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Nicola M. Young, Irene M. Wiecek, Bruce J. McConomy