(Solved): Exercise 4-7 (Algo) Income statement presentation; discontinued operations; restructuring costs [LO ...

Exercise 4-7 (Algo) Income statement presentation; discontinued operations; restructuring costs [LO4-1, 4-3, 4-4] Esquire Comic Book Company had income before tax of \( \$ 1,450.000 \) in 2024 before considering the following material items: 1. Esquire sold one of its operating divisions, which qualified as a separate component according to generally accepted accounting principles. The before-tax loss on disposal was \( \$ 385.000 \). The division generated before-tax income from operations from the beginning of the year through disposal of \( \$ 590.000 \). 2. The company incurred restructuring costs of \( \$ 50.000 \) during the yeat. Required: Prepare the income statement for Esquire beginning with income from continuing operations. Assume an income tax rate of \( 25 \% \). Ignore EPS disclosures. Note: Amounts to be deducted should be indicated with a minus sign. Exercise 4-10 (Algo) Earnings per share [LO4-5] The Esposito Import Company had 1 million shares of common stock outstanding during 2024 . Its income statement reported the following items: income from continuing operations, \( \$ 11 \) million; loss from discontinued operations, \( \$ 2.4 \) million. All of these amounts are net of tax. Required: Prepare the 2024 EPS presentation for the Esposito Import Company. Note: Amounts to be deducted should be indicated with a minus sign. Round your answers to 2 decimal places.