During the current year, Dale Corporation sold a segment of its business at a gain...
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During the current year, Dale Corporation sold a segment of its business at a gain of $210,000. Until it was sold, the segment had a current period operating loss of $75,000. The company had $850,000 income from continuing operations for the current year. Prepare the lower part of the income statement, beginning with the $850,000 income from continuing operations. Follow tax allocation procedures, assuming that all changes in income are subject to a 35 percent income tax rate. Disregard earnings per share disclosures. Income from Continuing Operations $ Discontinued Operations Loss from operations of discontinued segment $ Gain on disposal of discontinued segment Net Income $
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