Ex. 3- Journal entries-percentage-of-completion. Grant Construction Company was awarded a contract to construct an interchange at the junction of U.S. 94 and Highway 30 at a total contract price of $8,000,000. The estimated total costs to complete the project were $6,000,000. Instructions Multiplex Products, Inc., decides to discontinue its electronics division. During the current year, the electronics division had after tax income from continuing operations of $180,000. In addition, it disposed sold the division at a pretax loss of $90,000. Prior to disposal, the division operated at pretax gain of $10,000 in 2013. Assume a tax rate of 10%. Prepare a partial income statement. Compute the company's income before income taxes