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During 2020, Carla Vista Co. disposed of Lisa Division, a major component of its business. Carla Vista realized a gain of $2940000, net of taxes,
During 2020, Carla Vista Co. disposed of Lisa Division, a major component of its business. Carla Vista realized a gain of $2940000, net of taxes, on the sale of Lisa's assets. Lisa's operating losses, net of taxes, were $3600000 in 2020. How should these facts be reported in Carla Vista's income statement for 2020? Total Amount to be Included in Income from Results of Continuing Operations Discontinued Operations 2940000 gain 3600000 loss $3600000 loss $2940000 gain 660000 loss 0 0 660000 loss
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