Business, 25.02.2020 19:00 asra44

Buffalo Corporation had income from continuing operations of $12,500,000 in 2017.

During 2017, it disposed of its restaurant division at an after-tax loss of $212,000. Prior to disposal, the division operated at a loss of $473,000 (net of tax) in 2017 (assume that the disposal of the restaurant division meets the criteria for recognition as a discontinued operation).

Buffalo had 10,000,000 shares of common stock outstanding during 2017. Prepare a partial income statement for Buffalo beginning with income from continuing operations. (Round earnings per share to 2 decimal places, e. g. 1.48.)

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Buffalo Corporation had income from continuing operations of $12,500,000 in 2017.

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