(Solution) - Income Statement EPS Presented below are selected ledger -(2025 Original AI-Free Solution)

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Academic Level: Undergrad. (yrs 3-4)

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(Income Statement, EPS) Presented below are selected ledger accounts of Tucker Corporation as of December 31, 2004.
(a) Compute net income for 2004.
(b) Prepare a partial income statement beginning with income from continuing operations before income tax, and including appropriate earnings per share information. Assume 10,000 shares of common stock were outstanding during2004.