Pallest Corporation reported the following pretax information for its current fiscal year: $24,000 income from...
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Accounting
Pallest Corporation reported the following pretax information for its current fiscal year: $24,000 income from continuing operations and an $6,000 loss arising from discontinuing a segment (it was simply closed, no gain or loss on sale). Pallest is subject to a 30% income tax rate and had 6,000 shares of common stock outstanding for the year. Starting with pretax income from continuing operations, prepare a partial income statement for Pallest for the current year. Be sure to Include earnings per share information. Round earnings per share computations to the nearest cent
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