Brief Exercise 13-1

On June 30, Flores Corporation discontinued its operations in Mexico. On September 1, Flores disposed of the Mexico facility at a pretax loss of $640,000. The applicable tax rate is25%. Show the discontinued operations section of Flores's statement of comprehensive income.

FLORES CORPORATION

PartialStatement of Comprehensive Income

Dividends

Expenses

Net Income / (Loss)

Retained Earnings

Revenue

Total Expenses

Total Revenues

Discontinued Operations

Loss on Disposal of Mexico Facility

Gain on Disposal of Mexico Facility

Dividends

Expenses

Net Income / (Loss)

Retained Earnings

Revenue

Total Expenses

Total Revenues

Discontinued Operations

Loss on Disposal of Mexico Facility

Gain on Disposal of Mexico Facility

$

Brief Exercise 13-6

Net income was $500,000in 2015, $485,000in 2016, and $518,400in 2017. What is the percentage of change from (a) 2015 to 2016, and (b) from 2016 to 2017? Is the change an increase or a decrease?(If amount and percentage are a decrease show the numbers as negative, e.g. -55,000, -20% or (55,000), (20%). Round percentages to 0 decimal places, e.g. 12%.)

Amount

Percentage

(a)2015-2016$

%

Decrease

Increase

(b)2016-2017$

%

Increase

Decrease