partial income statement

1. Using the information provided in BE4-2, prepare a condensed multiple-step income statement for Brisky Corporation.

2. Finley Corporation had income from continuing operations of $10,600,000 in 2012. During 2012, it disposed of its restaurant division at an after-tax loss of $189,000. Prior to disposal, the division operated at a loss of $315,000 (net of tax) in 2012. Finley had 10,000,000 shares of common stock outstanding during 2012.

Prepare a partial income statement for Finley beginning with income from continuing operations.

3. Stacy Corporation had income before income taxes for 2012 of $6,300,000. In addition, it suffered an unusual and infrequent pretax loss of $770,000 from a volcano eruption. The corporation’s tax rate is 30%.

Prepare a partial income statement for Stacy beginning with income before income taxes. The corporation had 5,000,000 shares of common stock outstanding during 2012.