A lornado destroycd a warehouse, resulting in a pretax loss of $8,000. Additional Information: 1. The company sold Division K (a component of the company) in 2024. The numbers provided above do not include Division K. The book value of Division K s net assets is $110,000 at the time of sale. The company sold Division K for cash $80,000. During the year before its sale, Division K earned revenues of $05,000 and incurred expenses of 67,500 (which do not include income tax expense). 2. 24,000 shares of common stock were outstanding the entire year. 3. Income tax rate for all ilems is 21%. Purell Merchandise Company Income Statement Net sales 300000 Cost of goods sold 195000 Gross profit 297000 Operating expenses Income from operations Other items: Income from continuing operations before tax Income tax expenso Income from continuing operations Results from Discontinued operations: Net gain (loss) from discontinued operations Net Income Components of net income Per share of common stocks A lornado destroycd a warehouse, resulting in a pretax loss of $8,000. Additional Information: 1. The company sold Division K (a component of the company) in 2024. The numbers provided above do not include Division K. The book value of Division K s net assets is $110,000 at the time of sale. The company sold Division K for cash $80,000. During the year before its sale, Division K earned revenues of $05,000 and incurred expenses of 67,500 (which do not include income tax expense). 2. 24,000 shares of common stock were outstanding the entire year. 3. Income tax rate for all ilems is 21%. Purell Merchandise Company Income Statement Net sales 300000 Cost of goods sold 195000 Gross profit 297000 Operating expenses Income from operations Other items: Income from continuing operations before tax Income tax expenso Income from continuing operations Results from Discontinued operations: Net gain (loss) from discontinued operations Net Income Components of net income Per share of common stocks