Current Attempt in Progress
The Swifty Corporation had income from continuing operations of $12 million in 2020. During 2020, it disposed of its restaurant division at a loss of $93,000 (net of tax of $38,000). Before the disposal, the division operated at a loss of $207,000 (net of tax of $135,000) in 2020. Swifty also had an unrealized gain-OCI of $42,000 (net of tax of $18,000) related to its FV-OCI equity investments. Swifty had 10 million common shares outstanding during 2020.
Prepare a partial statement of financial performance for Swifty, beginning with income from continuing operations.
Swifty Corporation
Partial Statement of Comprehensive Income
choose the accounting period December 31, 2020For the Month Ended December 31, 2020For the Year Ended December 31, 2020
select a comprehensive income item Discontinued OperationsOther Comprehensive IncomeIncome from Continuing OperationsNet Income / (Loss)Comprehensive incomeGross Profit / (Loss)
$enter a dollar amount
select an opening name for section one Discontinued OperationsNet Income / (Loss)Comprehensive incomeOther Comprehensive IncomeGross Profit / (Loss)Income from Continuing Operations
select a comprehensive income item Loss from Disposal of Restaurant Division (Net of Tax)Unrealized Gain on FV-OCI Investments (Net of Tax)Gain from Disposal of Restaurant Division (Net of Tax)Gain from Operation of discontinued Restaurant Division (Net of Tax)Loss from Operation of discontinued Restaurant Division (Net of Tax)Loss on FV-OCI Investments (Net of Tax)
$enter a dollar amount select a comprehensive income item Unrealized Gain on FV-OCI Investments (Net of Tax)Gain from Disposal of Restaurant Division (Net of Tax)Gain from Operation of discontinued Restaurant Division (Net of Tax)Loss from Operation of discontinued Restaurant Division (Net of Tax)Loss on FV-OCI Investments (Net of Tax)Loss from Disposal of Restaurant Division (Net of Tax)
enter a dollar amount enter a subtotal of the two previous amounts
select a summarizing line for the first part Comprehensive incomeNet Income / (Loss)Discontinued OperationsOther Comprehensive IncomeIncome from Continuing OperationsGross Profit / (Loss)
enter a total amount for the first part
select an opening name for section two Other Comprehensive IncomeIncome from Continuing OperationsComprehensive incomeNet Income / (Loss)Gross Profit / (Loss)Discontinued Operations
Items that will not be reclassified subsequently to net income or loss:
select a comprehensive income item Loss on FV-OCI Investments (Net of Tax)Gain from Operation of discontinued Restaurant Division (Net of Tax)Loss from Disposal of Restaurant Division (Net of Tax)Unrealized Gain on FV-OCI Investments (Net of Tax)Gain from Disposal of Restaurant Division (Net of Tax)Loss from Operation of discontinued Restaurant Division (Net of Tax)
enter a dollar amount
select a closing name for this statement Net Income / (Loss)Discontinued OperationsOther Comprehensive IncomeIncome from Continuing OperationsGross Profit / (Loss)Comprehensive income
$enter a total amount for this statement
Calculate earnings per share. (Round answers to 2 decimal places, e.g. 52.75.)
Earnings Per Share: select a comprehensive income item Comprehensive incomeNet IncomeDiscontinued OperationsIncome from Continuing OperationsOther Comprehensive Income
$enter a dollar amount per share rounded to 2 decimal places
select a comprehensive income item Comprehensive incomeNet IncomeDiscontinued OperationsOther Comprehensive IncomeIncome from Continuing Operations
enter a dollar amount per share rounded to 2 decimal places
select a comprehensive income item Net IncomeComprehensive incomeIncome from Continuing OperationsDiscontinued OperationsOther Comprehensive Income
$enter a total amount