Chapter 4 - Income Statement and Related Information - Review and Practice - Brief Exercises - Page 181: BE4-5

Income from continuing operations= 4,475,800

Stacy Corporation Income Statement For the Year Ended 2017 Income from operations 7,200,000 Other revenues and gains Interest revenue 17,000 Other losses and expenses Loss from volcanic eruption 770,000 Write-down of buildings 53,000 (823,000) Income before tax 6,394,000 Income tax @ 30% 1,918,200 Income from continuing operations 4,475,800 EPS 4,475,800/5,000,000 0.9