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resented below are selected ledger accounts of Pearl Corporation
resented below are selected ledger accounts of Pearl Corporation as of December 31, 2017.
Cash $67,900 Administrative expenses 101,800 Selling expenses 81,630 Net sales 547,100 Cost of goods sold 265,400 Cash dividends declared (2017) 22,300 Cash dividends paid (2017) 18,600 Discontinued operations (loss before income taxes) 49,300 Depreciation expense, not recorded in 2016 39,700 Retained earnings, December 31, 2016 92,910Effective tax rate 30%
Prepare a partial income statement beginning with income from continuing operations before income tax, and including appropriate earnings per share information. Assume 19,780 shares of common stock were outstanding during 2017. (Round earnings per share to 2 decimal places, e.g. 1.48.)
This question was answered on: Feb 21, 2020
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