1. Prepare a corporate income statement and identify the issues related to evaluating the quality of earnings.



2. Show the relationships among income taxes expense, deferred income taxes, and net of taxes.



3. Describe the disclosure on the income statement of discontinued operations, extraordinary items, and accounting changes.



4. Compute earnings per share.



5. Prepare a statement of stockholders' equity.



6. Account for stock dividends and stock splits.



7. Calculate book value per share.



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