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Use the following information: Gross profit 7,800,000 Loss on sale of investments 20,000 Interest expense 15,000 Gain on sale of discontinued operations 60,000 Income tax

Use the following information: Gross profit 7,800,000 Loss on sale of investments 20,000 Interest expense 15,000 Gain on sale of discontinued operations 60,000 Income tax rate 20%

Compute the amount of discontinued operations to be combined with income from continuing operations on the income statement.

a.60,000 b.48,000 c.12,000 d.None of the above.

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