5 On December 31, 2024, the end of the fiscal year, California Microtech Corporation completed the sale of its semiconductor business for $15 million. The semiconductor business segment qualifies as a component of the entity according to GAAP. Consider the following additional information. 2 points eBook Print References The book value of the assets of the segment at the time of the sale was $12 million. The loss from operations of the segment during 2024 was $4.5 million. Pretax income from other continuing operations for the year totaled $6.6 million. . The income tax rate is 25%. . Prepare the lower portion of the 2024 income statement beginning with income from continuing operations before income taxes. Note: Loss amounts should be indicated with a minus sign. Enter your answers in whole dollars and not in millions. For example, $4,000,000 rather than $4. CALIFORNIA MICROTECH CORPORATION Partial Income Statement For the Year Ended December 31, 2024 Income from continuing operations before income taxes. Income tax expense Income from continuing operations Discontinued operations: Loss from operations of discontinued component Income tax benefit Loss on discontinued operations Net income 7,500,000 1,875,000 $ 6,600,000 (1,650,000) $ 4,950,000 5,625,000 $ 10,575,000 4

On December 31, 2024, the end of the fiscal year. Colfornia Microtech Corporabion completed the sale of ris semiconductor business for $15 milion. The seeniconductor business segment qualifies as a component of the entity acconding to GAAP. Conisider the following additional information - The book value of the assets of the segment at the time of the sale was 512 million - The loss trom operations of the segment during 2024 was $45 million. - Pretaxincome from other continuing operations for the year totaled 56.6million - The income taxiate is 25% Prepare the lower portion of the 2024 income statement begenning with income fram continuing operations before income taxes Note: Loss amounts should be indicoted with a minus sign. Enter your anwwers in whole dollars and not in miltions. For example. $4,000,000 rether than $4