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INCOME STATEMENT For the Fiscal Year Ended March 31, 2021 Sales revenue Cost of goods sold Gross profit Operating expenses ($ in millions) $

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INCOME STATEMENT For the Fiscal Year Ended March 31, 2021 Sales revenue Cost of goods sold Gross profit Operating expenses ($ in millions) $ 866 (422) 444 (204) (27) Income tax expense Income before discontinued operations 213 Loss from discontinued operations (132) Net income $ 81 The company's tax rate is 25%. Required: Recast the income statement to reflect intraperiod tax allocation. (Loss amounts should be indicated with a minus sign. Enter your answers in millions (i.e., 5,500,000 should be entered as 5.5).) Gross profit (loss) Income Statement For the fiscal year ended March 31, 2021 ($ in millions) Operating expenses Income from continuing operations before income taxes Income before discontinued operations Net income (loss)

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