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Patterson has pre-tax profit from all operations in 2015 of $38 million. This amount includes a $9 million operating loss from the toy car division
Patterson has pre-tax profit from all operations in 2015 of $38 million. This amount includes a $9 million operating loss from the toy car division incurred between the beginning of the year and August 15, the disposal date of the division. The $38 million profit does not include a pre-tax gain on the sale of the toy car division of $6 million. Prepare a partial statement of net income for Patterson for 2015, beginning with income from continuing operations before tax.
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