Shown Below Is Information Relating to Operations of R

question 123

Essay

Shown below is information relating to operations of R. Brook, Inc for the current year:
Continuing operations:
In the space provided, complete the income statement for R. Brook, Inc., including earnings per share figures. R. Brook, Inc. has 100,000 shares of a single class of common stock outstanding throughout the year.
R. BROOK, INC.
Condensed Income Statement
For the Year Ended December 31, 2009
$\begin{array}{lrr} \text { Continuing operations:} &\\ \text { Net sales } &\$2,750,000\\ \text { Costs and expenses (including income taxes) } &2,125,000\\ \text { Other data:} &\\ \text { Current-year loss generated by segment of the business } &\\ \text { discontinued in July (net of income tax benefit)} &207,500\\\text { Gain on disposal of discontinued segment (net of } &\\ \text {income tax) } &137,500\\ \text { Prior period adjustment (decrease in prior year's depreciation } &\\ \text { expense, net of income taxes).} &45,000\\ \text { Extraordinary loss (net of income tax benefit) } &17,500\\ \text { Cash dividends declared ( \$ 1.50 per share) } &150,000\\\end{array}$

---

Definitions:

Melting Point

The temperature at which a solid becomes a liquid at atmospheric pressure.

Intermolecular Forces

Forces of attraction or repulsion which act between neighboring particles, such as atoms or molecules, affecting the physical properties of substances.

Bend

To cause something to change its shape by applying force without breaking.

Saturated

Describes a chemical compound, typically a fat, that contains no double bonds between carbon atoms, allowing it to hold a maximum number of hydrogen atoms.