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Sunland Inc. disposes of an unprofitable segment of its business. The operation of the segment suffered a $211000 loss in the year of disposal.
Sunland Inc. disposes of an unprofitable segment of its business. The operation of the segment suffered a $211000 loss in the year of disposal. The loss on disposal of the segment was $92000. If the tax rate is 20%, and income before income taxes was $1530000, O the income from continuing operations is $1224000. O the income tax expense on the income before discontinued operations is $363600. O the losses from discontinued operations are reported net of income taxes at $303000. O net income is $1227000.
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