From the following data for norton company for the year

Reference no: EM13588434

From the following data for Norton Company for the year ended December 31, 2012 prepare a multiple-step income statement. Show parenthetically earnings per share for the following: income from continuing operations, loss on discontinued operations (less applicable income tax), income before extraordinary item, extraordinary item , and net income.

Common stock, $50 par	$200,000
Cost of merchandise sold	342,000
Administrative expenses	48,250
Income tax (applicable to continuing operations)	142,000
Interest expense	3,750
Loss on discontinued operations,
net of applicable tax of $2,700	5,400
Sales	865,000
Selling expenses	83,000
Uninsured flood loss, net of applicable
income tax of $4,500	14,000

Reference no: EM13588434

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From the following data for norton company for the year

Reference no: EM13588434

Reference no: EM13588434

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