Question: The Big and Rich Corporation had income from operations before

The Big and Rich Corporation had income from operations before tax for 2014 of57.3 million. In addition, it suffered an unusual and infrequent loss of $ 1,770,000 from a tornado. Of this amount, $500,000 was insured. In addition, the company realized a loss from the sale of a building amounting to 5250,000. The corporation's tax rate is 30%.
Prepare a partial income statement for Big and Rich beginning with income from operations. The corporation had five million common shares outstanding during 2014. Include calculation of EPS.


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  • CreatedSeptember 18, 2015
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