The following information is related to Bramble Company for 2025.

Retained earnings balance, January 1, 2025		$1,136,800
Sales revenue		29,000,000
Cost of goods sold		18,560,000
Interest revenue		81,200
Selling and administrative expenses		5,452,000
Write-off of goodwill		951,200
Income taxes for 2025		1,443,040
Gain on the sale of investments		127,600
Loss due to flood damage		452,400
Loss on the disposition of the wholesale division (net of tax)		510,400
Loss on operations of the wholesale division (net of tax)		104,400
Dividends declared on common stock		290,000
Dividends declared on preferred stock		92,800

Bramble Company decided to discontinue its entire wholesale operations (considered a discontinued operation) and to retain its manufacturing operations. On September 15, Bramble sold the wholesale operations to Rogers Company. During 2025, there were500,000shares of common stock outstanding all year.

(a1)

make a multiple-step income statement. (Round earnings per share to 2 decimal places, e.g. 1.49. List other revenues and gains before other Expenses and losses.)

BRAMBLE COMPANY Income Statement choose the accounting period December 31, 2025For the Quarter Ended December 31, 2025For the Year Ended December 31, 2025
select an income statement item Cost of Goods SoldGain on the Sale of InvestmentsIncome TaxInterest RevenueLoss from Flood DamageLoss from Operation of Wholesale DivisionLoss on Disposal of WholesaleSales RevenueSelling and Administrative ExpensesWrite-off of Goodwill		$enter a dollar amount
select an income statement item Cost of Goods SoldGain on the Sale of InvestmentsLoss from Flood DamageLoss from Operation of Wholesale DivisionLoss on Disposal of WholesaleIncome TaxInterest RevenueSales RevenueSelling and Administrative ExpensesWrite-off of Goodwill		enter a dollar amount
select a summarizing line for the first part Discontinued OperationsEarnings Per ShareGross Profit / (Loss)Income before Income TaxIncome from Continuing OperationsIncome from OperationsNet Income / (Loss)Other Expenses and LossesOther Revenues and Gains		enter a total amount for the first part
select an income statement item Cost of Goods SoldGain on the Sale of InvestmentsIncome TaxInterest RevenueLoss from Flood DamageLoss from Operation of Wholesale DivisionLoss on Disposal of WholesaleSales RevenueSelling and Administrative ExpensesWrite-off of Goodwill		enter a dollar amount
select a summarizing line for the second part Discontinued OperationsEarnings Per ShareGross Profit / (Loss)Income before Income TaxIncome from Continuing OperationsIncome from OperationsNet Income / (Loss)Other Expenses and LossesOther Revenues and Gains		enter a total amount for the second part
select an opening name for section one Discontinued OperationsEarnings Per ShareExpensesGross Profit / (Loss)Income before Income TaxIncome from Continuing OperationsIncome from OperationsNet Income / (Loss)Other Revenues and Gains
select an income statement item Cost of Goods SoldGain on the Sale of InvestmentsIncome TaxInterest RevenueLoss from Flood DamageLoss from Operation of Wholesale DivisionLoss on Disposal of WholesaleSales RevenueSelling and Administrative ExpensesWrite-off of Goodwill	$enter a dollar amount
select an income statement item Cost of Goods SoldGain on the Sale of InvestmentsIncome TaxInterest RevenueLoss from Flood DamageLoss from Operation of Wholesale DivisionLoss on Disposal of WholesaleSales RevenueSelling and Administrative ExpensesWrite-off of Goodwill	enter a dollar amount
		enter a subtotal of the two previous amounts
select an opening name for section two Discontinued OperationsEarnings Per ShareExpensesGross Profit / (Loss)Income before Income TaxIncome from Continuing OperationsIncome from OperationsNet Income / (Loss)Other Expenses and Losses
select an income statement item Cost of Goods SoldGain on the Sale of InvestmentsIncome TaxInterest RevenueLoss from Flood DamageLoss from Operation of Wholesale DivisionLoss on Disposal of WholesaleSales RevenueSelling and Administrative ExpensesWrite-off of Goodwill	enter a dollar amount
select an income statement item Cost of Goods SoldGain on the Sale of InvestmentsIncome TaxInterest RevenueLoss on Disposal, Net of TaxLoss from Flood DamageLoss on Operations, Net of TaxSales RevenueSelling and Administrative ExpensesWrite-off of Goodwill	enter a dollar amount
		enter a subtotal of the two previous amounts
select a summarizing line for the third part Discontinued OperationsEarnings Per ShareGross Profit / (Loss)Income before Income TaxIncome from Continuing OperationsIncome from OperationsNet Income / (Loss)Other Expenses and LossesOther Revenues and Gains		enter a total amount for the third part
select an income statement item Cost of Goods SoldGain on the Sale of InvestmentsIncome TaxInterest RevenueLoss from Flood DamageLoss from Operation of Wholesale DivisionLoss on Disposal of WholesaleSales RevenueSelling and Administrative ExpensesWrite-off of Goodwill		enter a dollar amount
select a summarizing line for the fourth part Discontinued OperationsEarnings Per ShareGross Profit / (Loss)Income before Income TaxIncome from Continuing OperationsIncome from OperationsNet Income / (Loss)Other Expenses and LossesOther Revenues and Gains		enter a total amount for the fouth part
select an opening name for section three Discontinued OperationsEarnings Per ShareGross Profit / (Loss)Income before Income TaxIncome from Continuing OperationsIncome from OperationsNet Income / (Loss)Other Expenses and LossesOther Revenues and Gains
select an income statement item Cost of Goods SoldGain on the Sale of InvestmentsIncome TaxInterest RevenueLoss from Flood DamageLoss from Operation of Wholesale DivisionLoss on Disposal of WholesaleSales RevenueSelling and Administrative ExpensesWrite-off of Goodwill	enter a dollar amount
select an income statement item Cost of Goods SoldGain on the Sale of InvestmentsIncome TaxInterest RevenueLoss from Flood DamageLoss from Operation of Wholesale DivisionLoss on Disposal of WholesaleSales RevenueSelling and Administrative ExpensesWrite-off of Goodwill	enter a dollar amount
		enter a subtotal of the two previous amounts
select a closing name for this statement Discontinued OperationsEarnings Per ShareGross Profit / (Loss)Income before Income TaxIncome from Continuing OperationsIncome from OperationsNet Income / (Loss)Other Expenses and LossesOther Revenues and Gains		$enter a total net income or loss amount
select an opening name for additional section Discontinued OperationsEarnings Per ShareGross Profit / (Loss)Income before Income TaxIncome from Continuing OperationsIncome from OperationsNet Income / (Loss)Other Expenses and LossesOther Revenues and Gains:
select an income statement item Discontinued OperationsEarnings Per ShareGross Profit / (Loss)Income before Income TaxIncome from Continuing OperationsIncome from OperationsNet Income / (Loss)Other Expenses and LossesOther Revenues and Gains		$enter a dollar amount rounded to 2 decimal places
select an opening subsection name Discontinued OperationsEarnings Per ShareGross Profit / (Loss)Income before Income TaxIncome from Continuing OperationsIncome from OperationsNet Income / (Loss)Other Expenses and LossesOther Revenues and Gains
select an income statement item Cost of Goods SoldGain on the Sale of InvestmentsIncome TaxInterest RevenueLoss from Flood DamageLoss from Operations of Discontinued DivisionLoss on Disposal of Discontinued DivisionSales RevenueSelling and Administrative ExpensesWrite-off of Goodwill	$enter a dollar amount rounded to 2 decimal places
select an income statement item Cost of Goods SoldGain on the Sale of InvestmentsIncome TaxInterest RevenueLoss from Flood DamageLoss from Operations of Discontinued DivisionLoss on Disposal of Discontinued DivisionSales RevenueSelling and Administrative ExpensesWrite-off of Goodwill	enter a dollar amount rounded to 2 decimal places
		enter a subtotal of the two previous amounts rounded to 2 decimal places
select a closing name for additional section Discontinued OperationsEarnings Per ShareGross Profit / (Loss)Income before Income TaxIncome from Continuing OperationsIncome from OperationsNet Income / (Loss)Other Expenses and LossesOther Revenues and Gains		$enter a total amount for additional section rounded to 2 decimal places

Answer rating: 100% (QA)

Bramble Company Income Statement for December 31 2025 Discontinued Operations Loss f... View the full answer