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Esquire Comic Book Company had income before tax of $1,500,000 in 2024 before considering the...

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Accounting

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Esquire Comic Book Company had income before tax of $1,500,000 in 2024 before considering the following material items 1. Esquire sold one of its operating divisions, which 4w.ied as a separate component according to generally accepted accounting principles. The before-tax loss on disposal was $390,000 The division generated before-tax income from operations from the beginning of the year through disposal of $600,000. 2. The company incurred restructuring costs of $55,000 during the year. Required: Prepare the income statement for Esquire beginning with income from continuing operations. Assume an income tax rate of 25% ignore EPS disclosures: Note: Amounts to be deducted should be indicated with o minus sign

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