Esquire Comic Book Company had income before tax of $ in before considering the following material items:
Esquire sold one of its operating divisions, which qualified as a separate component according to generally accepted accounting principles. The beforetax loss on disposal was $ The division generated beforetax income from operations from the beginning of the year through disposal of $
The company incurred restructuring costs of $ during the year.
Required:
Prepare the income statement for Esquire beginning with income from continuing operations. Assume an income tax rate of Ignore EPS disclosures.
Note: Amounts to be deducted should be indicated with a minus sign.
Answer is not complete.
tableESQUIRE COMIC BOOK COMPANY,,Partial Income Statement,,For the Year Ended December Income from continuing operations,,Discontinued operations:,Income from operations of discontinued component,Income tax expense,Income loss on discontinued operations,,
