Hi I need helo with each section that has a red c next to them because i cannot figure out the amounts and it is giving me a headache, thann you!
2. Assume that by December 31,2024 , the division had not yet been sold but was considered held for sale. The fair value of the division's assets on December 31 was $5,570,000. Prepare revised income statements according to generally accepted accounting principles, beginning with income from continuing operations before income taxes. Ignore EPS disclosures. 3. Assume that by December 31,2024 , the division had not yet been sold but was considered held for sale. The fair value of the division's assets on December 31 was $4,090,000. Prepare revised income statements according to generally accepted accounting principles, beginning with income from continuing operations before income taxes. Ignore EPS disclosures. Complete this question by entering your answers in the tabs below. Assume that by December 31, 2024, the division had not yet been sold but was considered held for sale. The fair value of the division's assets on December 31 was $5,570,000. Prepare revised income statements according to generaly accepted accounting principles, beginning with income from continuing operations before income taxes. Ignore EPS disclosures. Note: Amounts to be deducted should be indicated with a minus sign. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Prepare revised income statements according to generally accepted accounting principles, beginning with income from continuing operations before income taxes. Ignore EPS disclosures. Note: Amounts to be deducted should be indicated with a minus sign. Problem 4-2 (Algo) Discontinued operations [LO4-4] The following condensed income statements of the Jackson Holding Company are presented for the two years ended December 31 , 2024 and 2023 On October 15, 2024, Jackson entered into o tentative egreement to sell the assets of one of its divisions. The division qualifies as a component of an entity as defined by GAAP. The division was sold on December 31, 2024, for $5,570,000. Book value of the division's assets was $4,780,000. The division's contribution to Jackson's operating income before-tax for each year was as follows: 20242023;405,600305,0e0 Assume on income tax rate of 25% Required: Note: In each case, net any gain or loss on sale of division with annual income or loss from the division and show the tax effect on a separate line. 1. Prepare revised income stotements according to generally accepted accounting principles, beginning with income from continuing operations before income taxes. Ignore EPS disciosures. 2. Assume that bv December 31,2024 , the division had not vet been sold but was considered held for sale. The fair value of the Complete this question by entering your answers in the tabs below. Assume that by December 31, 2024, the division had not yet been sold but was considered held for sale. The fair value of the division's assets on December 31 was $4,090,000. Prepare revised income statements according to generally accepted accounting principles, beginning with income from continuing operations before income taxes. Ignore EPS disclosures. Note: Amounts to be deducted should be indicated with a minus sign
