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On June 30, Bramble Corp. discontinued its operations in Mexico. During the year, the operating income was $225,000 before taxes. On September 1, Bramble disposed
On June 30, Bramble Corp. discontinued its operations in Mexico. During the year, the operating income was $225,000 before taxes. On September 1, Bramble disposed of the Mexico facility at a pretax loss of $783,000. The applicable tax rate is 25%. Show the Income from operations of Mexican Facility section of Bramble's of income statement. BRAMBLE CORP. Partial Income Statement Loss on Disposal of Mexico Facility Bramble Corp.has income from continuing operations of $236,000 for the year ended December 31, 2022. It also has the following items (before considering income taxes). 1. An unrealized loss of $75,100 on available-for-sale securities. 2 A gain of $25,100 on the discontinuance of a division (comprised of a $5,900 loss from operations and a $31,000 gain on disposal). Assume all items are subject to income taxes at a 20% tax rate. (a) Prepare a partial income statement beginning with income from continuing operations. BRAMBLE CORP. Prepare a partial income statement beginning with income from continuing operations. BRAMBLE CORP. Partial Income Statement
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