Metlock, Inc. disposes of an unprofitable segment of its business. The operation of the segment...
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Accounting
Metlock, Inc. disposes of an unprofitable segment of its business. The operation of the segment suffered a $215000 loss in the year of disposal. The loss on disposal of the segment was $115000. If the tax rate is 31%, and income before income taxes was $1615000,
a. the income tax expense on the income before discontinued operations is $432300.
b. the income from continuing operations is $1114350.
c. the losses from discontinued operations are reported net of income taxes at $330000.
d. net income is $1285000.
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