Acc280 Financial Accounting: E13-1 Tulsa Company has income before irregular items
Financial Accounting E13-1 Tulsa Company has income before irregular items of $310,000 for the year ended December 31, 2012. It also has the following items (before considering income taxes): (1) and extra ordinary fire loss of $60,000 and (2) a gain of $30,000 from the disposal of a division. Assume all items are subject to income taxes at a 30% tax rate
Instruction: Prepare Tulsa Company's income statements for 2012 beginning with "Income before irregular items".