Chapter 11

Income before income tax and extraordinary item $7,300,000 Income tax 2,190,000 Income before extraordinary item 5,110,000 Extraordinary item—loss from casualty $770,000 Less: Applicable income tax 231,000 539,000 Net income $4,571,000 Earnings per share Income before extraordinary item $1.02* Extraordinary loss, net of tax (.11)* Net income ... ................
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