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Origami Imports engages in the retail sale of household products and clothing. During 2019, the company disposed of the clothing segment. Origami Imports had 150,000
Origami Imports engages in the retail sale of household products and clothing. During 2019, the company disposed of the clothing segment. Origami Imports had 150,000 shares of stock outstanding all year. The results of operations for 2019 follow. Household Products $15,000,000 11,400,000 1,400,000 Clothing $3,900,000 3,500,000 300,000 680,000 Net sales Cost of goods sold Operating expenses Loss on disposal of clothing business (before income tax effect) Interest expense Extraordinary loss from expropriation of operations in foreign country (before income tax effect) 40,000 80,000 Income taxes of 40% apply to all items. Required: Prepare an income statement for items after continuing operations for the year ended December 31, 2019, in proper format
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