The following are partial income statement account balances


The following are partial income statement account balances taken from the December 31, 2013, year-end trial balance of White and Sons, Inc.: restructuring costs, $370,000; interest revenue, $47,000; loss from earthquake (unusual and infrequent), $470,000; and loss on sale of investments, $57,000. Income tax expense has not yet been accrued. The income tax rate is 40%.

Prepare the lower portion of the 2013 income statement beginning with $885,000 income before income taxes and extraordinary item. Include appropriate basic EPS disclosures. The company had 100,000 shares of common stock outstanding throughout the year.

Request for Solution File

Ask an Expert for Answer!!
Financial Econometrics: The following are partial income statement account balances
Reference No:- TGS0667465

Expected delivery within 24 Hours