Finley Corporation had income from continuing operations of $10,600,000 in 2025. During 2025, it disposed of its

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Finley Corporation had income from continuing operations of $10,600,000 in 2025. During 2025, it disposed of its restaurant division at an after-tax loss of $189,000. Prior to disposal, the division operated at a loss of $315,000 (net of tax) in 2025 (assume that the disposal of the restaurant division meets the criteria for recognition as a discontinued operation). Finley had 10,000,000 shares of common stock outstanding during 2025. Prepare a partial income statement for Finley beginning with income from continuing operations.

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Intermediate Accounting

ISBN: 9781119790976

18th Edition

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield

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