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Prepare a partial income statement for Pallest

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Reference no: EM132697718

Question - Income Statement - Pallest Corporation reported the following pretax information for its current fiscal year: $63,000 income from continuing operations and an $9,000 loss arising from discontinuing a segment (it was simply closed, no gain or loss on sale). Pallest is subject to a 30% income tax rate and had 9,000 shares of common stock outstanding for the year. Starting with pretax income from continuing operations, prepare a partial income statement for Pallest for the current year. Be sure to include earnings per share information.

Reference no: EM132697718

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