7- Multiple Choice Question 174
Parrish, Inc. decided on January 1 to discontinue its telescope manufacturing division. On July 1, the division’ s assets with a book value of $ 1,250,000 are sold for $ 850,000. Operating income from January 1 to June 30 for the division amounted to $ 125,000. Ignoring income taxes, what total amount should be reported on Parrish’ s income statement for the current year under the caption, Discontinued Operations?
$ 400,000 loss $ 275,000 loss $ 525,000 $ 125,000 8- Multiple Choice Question 112 Earnings per share is calculated only for preferred stock. only for treasury stock. for common and preferred stock. only for common stock. 9- Multiple Choice Question 171 The acid-test ratio is also known as the