Question
Tursten haspre-tax profit from all operations in 2015 $31 million. This amount includes a $ 13 million operating loss from the toy car division incurred
Tursten haspre-tax profit from all operations in 2015 $31 million. This amount includes a $ 13 million operating loss from the toy car division incurred between the beginning of the year and August 15, the disposal date of the division. The $ 31 million profit does not include apre-tax gain on the sale of the toy car division of $ 10 million. Prepare partial statement of net income for Tursten for 2015, beginning with income from continuing operations before tax. (Use the condensed income statement format and assume the company is subject to a 35 % income tax rate. Enter all amounts in millions. Use parentheses or a minus sign to enter any lossamount.)
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