Business
Business, 15.06.2021 18:30, zackcarlson9374

Vaughn Corporation had income from continuing operations of $10,653,500 in 2020. During 2020, it disposed of its restaurant division at an after-tax loss of $200,300. Prior to disposal, the division operated at a loss of $321,100 (net of tax) in 2020 (assume that the disposal of the restaurant division meets the criteria for recognition as a discontinued operation). Vaughn had 10,000,000 shares of common stock outstanding during 2020. Prepare a partial income statement for Vaughn beginning with income from continuing operations.

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Vaughn Corporation had income from continuing operations of $10,653,500 in 2020. During 2020, it dis...

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