Question: The Blue Collar Corporation had income from continuing operations of
The Blue Collar Corporation had income from continuing operations of $ 12.6 million in 2014. During 2014, it disposed of its restaurant division at an after- tax loss of $89,000. Before the disposal, the division operated at a loss of $315,000 (net of tax) in 2014. Blue Collar also had an unrealized gain-OCI of $43,000 (net of tax) related to its fair value-OCI investments. Blue Collar had 10 million common shares outstanding during 2014. Blue Collar accounts for its investments in accordance with li\S 39. Prepare a partial statement of comprehensive income for Blue Collar beginning with income from continuing operations. Include calculation of EPS.
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