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Please show numbers are computed. On December 31,2024, the end of the fiscal year, Revolutionary Industries completed the sale of its robotics business for $12.4
Please show numbers are computed.
On December 31,2024, the end of the fiscal year, Revolutionary Industries completed the sale of its robotics business for $12.4 million. The robotics business segment qualifies as a component of the entity, according to GAAP. Consider the following additional information: - The book value of the assets of the segment was $8.7 million at the time of the sale. - The income from operations of the segment during 2024 was $5.7 million. - Pretax income from other continuing operations for the year totaled $13.7 million. - The income tax rate is 25%. Prepare the lower portion of the 2024 income statement beginning with income from continuing operations before income taxes. Note that "Income/Loss from operations of discontinued component" includes: 1) income/loss from operations, and 2) gain/loss on disposal or impairment loss. Note: Loss amounts should be indicated with a minus sign. Enter your answers in whole dollars and not in millions. For example, $4,000,000 rather than $4Step by Step Solution
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