Glass Manufacturing incurred a loss of $28 due to a flood in a place that has floods once in 100 years.
Prepare the following:
a.Beginning with income from continuing operations before income taxes of $100,complete the remainder of Glass Manufacturing's income statement.
b.Prepare the necessary earnings per share disclosure,assuming that Glass Manufacturing has no convertible securities or common stock equivalents and has 25 common shares outstanding throughout the year.There are no preferred dividends.

Question

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The Answer of Glass Manufacturing incurred a loss of $28 due to a flood in a place that has floods once in 100 years.
Prepare the following:
a.Beginning with income from continuing operations before income taxes of $100,complete the remainder of Glass Manufacturing's income statement.
b.Prepare the necessary earnings per share disclosure,assuming that Glass Manufacturing has no convertible securities or common stock equivalents and has 25 common shares outstanding throughout the year.There are no preferred dividends.

Glass Manufacturing Incurred a Loss of $28 Due to a Flood