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Wildcat Corporation's adjusted trial balance for the year ended December 31, 2021 follows: Income from continuing operations before income taxes Gain on disposal of discontinued
Wildcat Corporation's adjusted trial balance for the year ended December 31, 2021 follows: Income from continuing operations before income taxes Gain on disposal of discontinued component Loss from operations of discontinued component Wildcat Corporation is subject to a 25% effective tax rate. $111,000 28,900 (51,000) Required: Prepare the December 31, 2021, income statement for Wildcat Corporation, starting with income from income taxes. (Amounts to be deducted should be indicated with a minus sign.) WILDCAT CORPORATION Partial Income Statement For the Year Ended December 31, 2021 Income from continuing operations before income taxes 111,000 Income from continuing operations Discontinued operations: Loss on discontinued operations Net income (loss) $ 111,000 0
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