acc407 the following are partial income statement account balances taken from the de 491721
Acc304 Intermediate Accounting
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acc407 the following are partial income statement account balances taken from the de 491721
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BE4-5 Separately reported items
The following are partial income statement account balances taken from the December 31, 2009, year-end trial balance of White and Sons, Inc.:
|
Restructuring costs |
300,000 |
|
Interest revenue |
40,000 |
|
Loss from earthquake (unusual and infrequent) |
400,000 |
|
Loss on sale of investments |
50,000 |
Income tax expense has not yet been accrued. The income tax rate is 40%.
Prepare the lower portion of the 2009 income statement beginning with $850,000 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.
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