Examlex
Banks Corp.reported net income of $595,000 in 2012.During 2012 Banks reported a loss of $87,435 from a peripheral activity.The loss was included as part of income from continuing operations.Assuming that the loss is a one-time event and that Banks has an effective tax rate of 35%,calculate Banks' adjusted net income.Show all of your calculations for credit.
In addition,discuss why analysts might make an adjustment of this type.
Q23: Shady Sunglasses operates retail sunglass kiosks in
Q23: What would be Jarrett's common shareholders' equity
Q30: When the functional currency is the U.S.dollar,financial
Q40: Office Mart,Inc.sells numerous office supply products through
Q48: Valuation methods that reflect current values or
Q53: Comparative financial statements for Larson Company,prepared on
Q55: The source of risk related to political
Q57: Refer to the information for Orca Industries.The
Q57: The income statement approach to measuring income
Q84: The ability of a firm to manage