Question
XYZ Co. had the following information in 2019: income before income tax is $2,500,000, and the tax rate is 40%. During 2019, it disposed of
XYZ Co. had the following information in 2019: income before income tax is $2,500,000, and the tax rate is 40%. During 2019, it disposed of its division. The company had a pre-tax loss of $30,000. Prior to disposal, the division operated at a pre-tax gain of $55,000. What amount would XYZ Co. reports in the discontinued operations on its income statement?
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Cost management a strategic approach
Authors: Edward J. Blocher, David E. Stout, Gary Cokins
5th edition
73526940, 978-0073526942
