Question 5 - 8 Marks For the year ended December 31st, 2018 McDonald Inc reported...
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Question 5 - 8 Marks For the year ended December 31st, 2018 McDonald Inc reported a Net Income before tax of $600,000. Included in that amount amounts related to their manufacturing division, which qualifies for treatment as a discontinued operations. The manufacturing division had a loss from operations (before tax) of $50,000 and a loss from disposition of $40,000 (after tax). Assume the company has a tax rate of 30%. 1. Calculate the after tax net income from continuing operations 2. Prepare the discontinued" operations section that would appear on McDonald Inc's statement of comprehensive income
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