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On December 31,2024, the end of the fiscal year, California Microtech Corporation completed the sale...

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Accounting

On December 31,2024, the end of the fiscal year, California Microtech Corporation completed the sale of its semiconductor business for $14 million. The semiconductor business segment qualifies as a component of the entity according to GAAP. Consider the following additional information.
The book value of the assets of the segment at the time of the sale was $13 million.
The loss from operations of the segment during 2024 was $3.8 million.
Pretax income from other continuing operations for the year totaled $6.0 million.
The income tax rate is 25%.
Prepare the lower portion of the 2024 income statement beginning with income from continuing operations before income taxes. Note: Loss amounts should be indicated with a minus sign. Enter your answers in whole dollars and not in millions. For example, $4,000,000 rather than $4.
\table[[CALIFORNIA MICROTECH CORPORATION,],[Partial Income Statement,,],[For the Year Ended December 31,2024,,],[Income from continuing operations before income taxes,,6,000,000
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