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Please answer the provided discussion question and give a decent response for the answer you display. Question: BE13-1 On June 30, Flores Corporation discontinued its
Please answer the provided discussion question and give a decent response for the answer you display.
Question: BE13-1 On June 30, Flores Corporation discontinued its operations in Mexico. On September 1, Flores disposed of the Mexico facility at a pretax loss of $640,000. The applicable tax rate is 25%. Show the discontinued operations section of Flores's statement of comprehensive income. Prepare statement of comprehensive income including unusual items. Suggest a reason this information is segregated from regular income. Here is an example of what is being expected for this response: This is very doable. You have only the discontinued operations information. I copied an example from our textbook below. This discussion is under the section titled, "Sustainable Income." In evaluating a company's profitability, the income from items that will not continue must be identified. Don't be confused by the title of the statement, Statement of Comprehensive Income. This is a new title, statement for you. There are additions and subtractions to equity that do not flow through the income statement. I know!! Right at the end, you have a new concept of income, but you can do it! Just concentrate on the discontinued information. Be sure to identify a reason for this information being presented separately; as a section of the CI statement; separated from Net IncomeStep by Step Solution
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