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What is Fox net loss on their income statement

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Q1. For 2019, Fox, Co had a $450,000 net operating loss and a pretax net loss of $400,000 on their 2019 income statement. In future, Fox expects to be successful for many years with an expected future tax rate of 30%. For each of the past 2 years, 2018 and 2017, Fox's taxable income was $250,000 with a 25% tax rate. What is Fox's net loss on their 2019 income statement?

A. $310,000

B. $337,500

C. $287,500

D. $315,000

E. $265,000

Q2. Which statement is false regarding basic (BEPS) or diluted (DEPS) earnings per share?

A. BEPS is based on "what-if" conversions

B. DEPS is never shown without showing BEPS

C. If BEPS is $5.28, DEPS is not shown if it is $5.29

D. BEPS must be on the IS, not just in FS Notes

Reference no: EM132926472

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