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:

Open Membership

A policy allowing anyone interested to join a group or organization without restrictions or prerequisites.

Cohesive

Possessing the ability to stick together or form a unified whole, often referring to the unity or bond within a group or organization.

Group Think

A phenomenon where a group's desire for harmony or conformity results in an irrational or dysfunctional decision-making outcome.

Individual

Pertaining to a single person or thing, separate from others, emphasizing the importance of personal identity.