FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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ncome Statement Sections
During the current year, Dale Corporation sold a segment of its business at a gain of $198,000. Until it was sold, the segment had a current period operating loss of $77,000. The company had $820,000 income from continuing operations for the current year. Prepare the lower part of the income statement, beginning with the $820,000 income from continuing operations. Follow tax allocation procedures, assuming that all changes in income are subject to a 40 percent income tax rate. Disregard earnings per share disclosures.

Do not use negative signs with any of your answers. 

Income from Continuing Operations   Answer
Discontinued Operations    
Loss from operations of discontinued segment Answer  
Gain on disposal of discontinued segment Answer Answer
Net Income   Answer
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