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Brief Exercise 4-6 Discontinuedperations L04.4) On December 31, 2018, the end of the fiscal year, Revolutionary Industries completed the sale of its robotics business for
Brief Exercise 4-6 Discontinuedperations L04.4) On December 31, 2018, the end of the fiscal year, Revolutionary Industries completed the sale of its robotics business for $12.4 million. The business segment qualifies as a component of the entity according to GAAP. The book value of the assets of the segment was $8.7 million. The income from operations of the segment during 2018 was $5.7 million. Pretax income from continuing operations for the year totaled $13.7 million. The income tax rate is 40%. Prepare the lower portion of the 2018 income statement beginning with pretax income from continuing operations. Ignore EPS disclosures. (Amounts to be deducted and negative amounts should be indicated with a minus sign. Enter your answers in whole dollars.) REVOLUTIONARY INDUSTRIES Partial Income Statement For the Year Ended December 31, 2018 ncome from continuing operations before income taxes Discontinued operations
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