During the year, Apex Co. sold an unprofitable component of the company. The component had net...

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During the year, Apex Co. sold an unprofitable component of the company. The component had net loss from operations during the year of $150,000. The gain on the sale of its assets totaled $100,000. Apex reported before-tax income from continuing operations of $120,000. All items are taxe at 30%. The company had 10,000 shares of common stock outstanding and issued $5,000 of cash dividends to its preferred shareholders during the year. Show how this will appear on Apex's 20Y1 income statement. Earnings Per Share During the year, Apex Co. sold an unprofitable component of the company. The component had net loss from operations during the year of $150,000. The gain on the sale of its assets totaled $100,000. Apex reported before-tax income from continuing operations of $120,000. All items are taxe at 30%. The company had 10,000 shares of common stock outstanding and issued $5,000 of cash dividends to its preferred shareholders during the year. Show how this will appear on Apex's 20Y1 income statement. Earnings Per Share

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To prepare Apexs income statement for the year 2011 we need to consider the following items Net loss ... View the full answer