IBE18-15. On June 30, Malohkeh Corporation discontinued its operations in Europe. During the year, the operating loss was $300,000 before taxes. On September 1, Malohkeh disposed of its European facilities at a pretax loss of $120,000. The applicable tax rate is 30%. 30.0% Show the discontinued operations section of the income statement. Discontinued Operations Income from operations of European division, net of $90,000 income tax Gain from disposal of European division, net of $36,000 income tax Prepare discontinued operations section of income statement. IBE18-15. On June 30, Malohkeh Corporation discontinued its operations in Europe. During the year, the operating loss was $300,000 before taxes. On September 1, Malohkeh disposed of its European facilities at a pretax loss of $120,000. The applicable tax rate is 30%. 30.0% Show the discontinued operations section of the income statement. Discontinued Operations Income from operations of European division, net of $90,000 income tax Gain from disposal of European division, net of $36,000 income tax Prepare discontinued operations section of income statement