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On December 31, 2018, the end of the fiscal year, Revolutionary Industries completed the sale of its robotics business for $9.2 million. The business segment
On December 31, 2018, the end of the fiscal year, Revolutionary Industries completed the sale of its robotics business for $9.2 million. The business segment qualifies as a component of the entity according to GAAP. The book value of the assets of the segment was $7.1 million. The income from operations of the segment during 2018 was $4.1 million. Pretax income from continuing operations for the year totaled $12.1 million. The income tax rate is 40%. Prepare the lower portion of the 2018 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.)
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