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On June 30, Flores Corporation discontinued its operations in Mexico. On September 1, Flores disposed of the Mexico facility at a pretax loss of $580,000.
On June 30, Flores Corporation discontinued its operations in Mexico. On September 1, Flores disposed of the Mexico facility at a pretax loss of $580,000. The applicable tax rate is 35%. Show the discontinued operations section of Floress statement of comprehensive income. (Enter loss using either a negative sign preceding the number e.g. -2,945 or parentheses e.g. (2,945).)
FLORES CORPORATION Partial Statement of Comprehensive Income | |||
DividendsExpensesLoss on disposal of discontinued operationsNet income / (loss)Retained earnings | $ |
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