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The costume division for Moira's Cabaret has been losing money monthly and the company decided to discontinue the division on January 1, 2021. During
The costume division for Moira's Cabaret has been losing money monthly and the company decided to discontinue the division on January 1, 2021. During 2021, the company was unable to find a buyer for the costume division and the division had pre-tax losses of $40,000 each month. Assuming that Moira's Cabaret reported pre-tax income of $8,800,000 from all operations, prepare a partial income statement for the company for 2021. Begin with income from continuing operations net of tax (after tax) by filling in the correct values for each line. Assume a 30% tax rate. Input your answers with no dollar signs and round to the nearest dollar. Use a minus sign to indicate negative numbers. Income from continuing operations, net of tax Discontinued operations: Income from discontinued operations, net of tax Net income I
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