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During 2020, Sunland Company disposed of Amy Division, a major component of its business. Sunland realized a gain of $3000000, net of taxes, on the
During 2020, Sunland Company disposed of Amy Division, a major component of its business. Sunland realized a gain of $3000000, net of taxes, on the sale of Amy's assets. Amy's operating losses, net of taxes, were $3600000 in 2020. How should these facts be reported in Sunland's income statement for 2020? Total Amount to be Included in Income from Results of Continuing Operations Discontinued Operations 600000 loss 0 $3600000 loss $3000000 gain 0 600000 loss 3000000 gain 3600000 loss
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