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Southeast Airlines had pretax earnings of $85 million. Included in this amount is income from discontinued operations of $15 million. The company's tax rate is
Southeast Airlines had pretax earnings of $85 million. Included in this amount is income from discontinued operations of $15 million. The company's tax rate is 25%. What is the amount of income tax expense that Southeast would report in its income statement for continuing operations? (Enter your answer in millions rounded to 2 decimal place (i.e., i.e., 5,500,000 should be entered as 5.50). Amount to be deducted should be indicated with a minus sign.) $ 70.00 Income from continuing operations before tax Income tax expense Income from continuing operations Income from discontinued operations 70.00 11.25 Net income 81.25
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