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During 2020, Oriole Company disposed of Jennifer Division, a major component of its business. Oriole realized a gain of $2900000, net of taxes, on the
During 2020, Oriole Company disposed of Jennifer Division, a major component of its business. Oriole realized a gain of $2900000, net of taxes, on the sale of Jennifer's assets. Jennifer's operating losses, net of taxes, were $3570000 in 2020. How should these facts be reported in Oriole's income statement for 2020? Total Amount to be included in Income from Results of Continuing Operations Discontinued Operations 670000 loss 0 $3570000 loss $2900000 gain 2900000 gain 3570000 loss 670000 loss
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