Question
Gamma Corporation decided in 2021 to dispose of one of its divisions. The sale was completed on October 1, 2021. From 2021 until the
Gamma Corporation decided in 2021 to dispose of one of its divisions. The sale was completed on October 1, 2021. From 2021 until the date of the sale, the division disposed of reported a loss on operations of $47,547 net of tax. The book value of the division on October 1, 2021, is $444,827. The division sold for $532,608 net of tax. Gamma has calculated Income from Continuing Operations to be $850,000. What is the amount of net income Gamma will report on its year-end 2021 income statement? *round your answer to the nearest dollar
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