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Having a hard time with this. please help. In 2015, Laetner Industries decided to discontinue its Laminating Division, a separately-identifiable component of Laetner's business. The

Having a hard time with this. please help.

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In 2015, Laetner Industries decided to discontinue its Laminating Division, a separately-identifiable component of Laetner's business. The assets of the Laminating Division were sold on July 31; there was a $50,000 pretax gain on the disposal. Between Jan 1 and July31, the Laminating Division generated a pre-tax net loss of $20,000. Excluding the 2015 pre-tax loss generated by the Laminating Division, Laetner had a pre-tax profit of $89,000 for 2015. Instructions: Assuming a 35% tax rate, prepare the discontinued operations section of Laetner Industries' income statement for the year ending December 31, 2015

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