From the following data for Norton Company for the year ended December 31, prepare a multiple-step income statement.

Show earnings per share for the following:

a) income from continuing operations,

b) loss on discontinued operations (less applicable income tax),

c) income before extraordinary item,

d) extraordinary item (less applicable income tax), and

e) net income.

Common stock, $50 par $200,000
Cost of merchandise sold 342,000
Administrative expenses 48,250
Income tax (applicable to continuing operations) 142,000
Interest expense 3,750
Loss on discontinued operations, net of applicable tax of $2,700 5,400
Sales 865,000
Selling expenses 83,000
Uninsured flood loss, net of applicable income tax of $4,500 14,000
Income Statement
Income statement or statement of financial performance measures the ability of the company to generate income. This composes of different items. Income from its own operations and the extraordinary items.

Which of the following best describes biochemical evidence that would not support the modern concept of evolution? a. a bacterium that uses inorganic materials to produce energy b. an organism that does not undergo cellular respiration c. a species of bacteria that is capable of photosynthesis d. an organism that undergoes both aerobic and anaerobic respiration

You have just been hired as a financial analyst for barrington industries. unfortunately, company headquarters (where all of the firm's records are kept) has been destroyed by fire. so, your first job will be to recreate the firm's cash flow statement for the year just ended. the firm had $100,000 in the bank at the end of the prior year, and its working capital accounts except cash remained constant during the year. it earned $5 million in net income during the year but paid $800,000 in dividends to common shareholders. throughout the year, the firm purchased $5.5 million of machinery that was needed for a new project. you have just spoken to the firm's accountants and learned that annual depreciation expense for the year is $450,000; however, the purchase price for the machinery represents additions to property, plant, and equipment before depreciation. finally, you have determined that the only financing done by the firm was to issue long-term debt of $1 million at a 6% interest rate. what was the firm's end- of-year cash balance? recreate the firm's cash flow statement to arrive at your answer

Which change is illustrated by the shift taking place on this graph? a decrease in supply an increase in supply o an increase in demand o a decrease in demand