Compute each of the following operating income income loss

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Reference no: EM13481895

The Hot Aire Company reported the following items on its income statement for2007.

a. Net operating revenues, $956,000

b. Cost of goods sold, $312,000

c. Selling and administrative expenses, $245,000

d. Research and development expenses, $122,000

e. Net interest expense,$8,500

f. Provision for income taxes, $85,920

g. Current year loss from discontinued operations of $24,000, net of tax benefit of$7,680

h. Loss from sale of discontinued operations of $89,000, net of tax benefit of $24,480

i. Preferred stock dividends, $48,000

The company had 25,000 shares of common stock outstanding throughout the fiscal year.

Compute each of the following:

A. Operating income

B. Income (loss) from continuing operations, before taxes

C. Income (loss) before discontinued operations

D. Net income(loss)

E. Net income (loss) available for common shareholders

F. Earnings per share from continuing operations

G. Earnings per share from discontinued operations

H. Earnings per share from net income(loss)

Reference no: EM13481895

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