DISCONTINUED OPERATIONS EXERCISE In 2015, Laetner Industries decided to discontinue its Laminating Division, a separately- identifiable component of Laetner's business. . The assets of the Laminating Division were sold on July 31; there was a $50,000 pre- tax gain on the disposal. Between Jan 1 and July31, the Laminating Division generated a pre-tax net loss of $20,000. Eig the 2015 pre-tax loss generated by the Laminating Division, Laetner had a pre-tax profit of $89,000 for 2015. Instructions: Assuming a 35% tax rate, prepare the discontinued Operations section of Laetner Industries' income statement for the year ending December 31, 2015. **USE THE FORMAT USED IN THE POWERPOINT SLIDE POSTED ON BLACKBOARD**but be careful to note what is a gain and what is a long and what figures to add/substract