he semiconductor business of the California Microtech Corporation qualifies as a component of the entity according to GAAP. The book value of the assets of the segment was $8 million. The loss from operations of the segment during 2016 was $4.6 million. Pretax income from continuing operations for the year totaled $7.6 million. The income tax rate is 30%. Assume that the semiconductor segment was not sold during 2016 but was held for sale at year-end. The estimated fair value of the segments assets, less costs to sell, on December 31 was $11 million.

Prepare the lower portion of the 2016 income statement beginning with pretax income from continuing operations. Ignore EPS disclosures. (Amounts to be deducted and negative amounts should be indicated with a minus sign. Enter your answers in whole dollars.)

CALIFORNIA MICROTECH CORPORATION Partial Income Statement For the Year Ended December 31, 2016
Income from continuing operations before income taxes
Income tax expenses
Income from continuing operations
Discontinued operation:
Loss from operations of discontinued component
Income tax benefit
Loss on discontinued operations
Net Income