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On December 31, 2024, the end of the fiscal year, Revolutionary Industries completed the sale of its robotics business for $10.2 million. The robotics business

On December 31, 2024, the end of the fiscal year, Revolutionary Industries completed the sale of its robotics business for $10.2 million. The robotics business segment qualifies as a component of the entity, according to GAAP. Consider the following additional information:

  • The book value of the assets of the segment was $7.6 million at the time of the sale.
  • The income from operations of the segment during 2024 was $4.6 million.
  • Pretax income from other continuing operations for the year totaled $12.6 million.
  • The income tax rate is 25%.

Prepare the lower portion of the 2024 income statement beginning with income from continuing operations before income taxes.

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