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