Jason Bond Company operates two restaurants, one in Valencia and one in Saugus. The operations and cash

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Jason Bond Company operates two restaurants, one in Valencia and one in Saugus. The operations and cash flows of each of the two restaurants are clearly distinguishable. During 2013, Jason Bond decided to close the restaurant in Saugus and sell the property; it is probable that the disposal will be completed early next year. The revenues and expenses of Jason Bond for 2013 and for the preceding two years are as follows:
Jason Bond Company operates two restaurants, one in Valencia and

The other expenses do not include income tax expense. During the later part of 2013, Jason Bond sold much of the kitchen equipment of the Saugus restaurant and recognized a pretax gain of $15,000 on the disposal. The income tax rate for Jason Bond is 35%.
Prepare the 3-year comparative income statement for 2011-2013?

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Intermediate Accounting

ISBN: 978-0538479738

18th edition

Authors: Earl K. Stice, James D. Stice

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