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Prepare a partial income statement for Apex Inc

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Reference no: EM132778716

Problem - Income statement and earnings per share for discontinued operations - Apex Inc. reports the following for a recent year:

Income from continuing operations before income tax expense $ 1,000,000

Loss from discontinued operations $240,000

Weighted average number of shares outstanding 20,000

Applicable tax rate 40%

Required -

a. Prepare a partial income statement for Apex Inc., beginning with income from continuing operations before income tax expense.

b. Determine the earnings per common share for Apex Inc., including per-share amounts for unusual items.

Reference no: EM132778716

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