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On December 31, 2024, the end of the fiscal year, Revolutionary Industries completed the sale of its robotics business for $11.0 million. The robotics
On December 31, 2024, the end of the fiscal year, Revolutionary Industries completed the sale of its robotics business for $11.0 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 $8.0 million at the time of the sale. The income from operations of the segment during 2024 was $5.0 million. Pretax income from other continuing operations for the year totaled $13.0 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. Note: Loss amounts should be Indicated with a minus sign. Enter your answers in whole dollars and not in millions. For example, $4,000,000 rather than $4. Answer is not complete. REVOLUTIONARY INDUSTRIES Partial Income Statement For the Year Ended December 31, 2024 Income from continuing operations before income taxes Income tax expense 0000 Income from continuing operations Discontinued operations income from operations of discontinued component Income tax expense income on discontinued operations Net income
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