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LeBron's Bookstores has two divisions: books and electronics. The electronics division had another great year in 2021 with net sales of $11 million, cost of
LeBron's Bookstores has two divisions: books and electronics. The electronics division had another great year in 2021 with net sales of $11 million, cost of goods sold of $6.5 million, operating expenses of $3 million, and income tax expense of $375,000. The book division did not do as well and was sold during the year. The loss from operations and sale of the book division was $900,000 before taxes and $675,000 after taxes. Required: Prepare the multiple-step income statement for LeBron's Bookstores, including the proper reporting for the discontinued book division. (Enter your answer in dollars, not millions. (i.e.,$5.5 million should be entered as 5,500,000).) LEBRON'S BOOKSTORES Income Statement For the Year Ended December 31, 2 Discontinued operation
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