Question
Clockers, Inc. committed to sell a division on March 22, 2022. It sold the division on June 14, 2024, Income from operating this division
Clockers, Inc. committed to sell a division on March 22, 2022. It sold the division on June 14, 2024, Income from operating this division was $3,240,000, $1,005,000, and $332,000 in 2022, 2023 and 2024, respectively. On December 31, 2022, the carrying value of the division was $10,000,000 and the fair value was $9,500,000. On December 31, 2023, the fair value of the division was $10,100,000 and the carrying value of the division was $10,000,000. The division was sold for $9,800,000 when the carrying value was $10,000,000. Prepare the discontinued operations section of the income statement for 2022 through 2024, assuming Clockers' income tax rate is 35%. (Use parentheses or a minus sign to enter any loss amount. If an input field is not used in the table, leave the input feld empty, do not select a label or enter a zero.) Income from Discontinued Operations Clockers, Inc. Partial Income Statement For the Year Ended December 31 2022 2023 2024
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