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On June 30, Sheffield Corp. discontinued its operations in Mexico. During the year, the operating income was $300,000 before taxes. On September 1, Sheffield disposed

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On June 30, Sheffield Corp. discontinued its operations in Mexico. During the year, the operating income was $300,000 before taxes. On September 1, Sheffield disposed of the Mexico facility at a pretax loss of $700,000. The applicable tax rate is 30%. Show the discontinued operations section of Sheffield's income statement. SHEFFIELD CORP. Partial Income Statement $ $ $

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