The costume division for Moira's Cabaret has been losing money monthly and the company decided...
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Accounting
The costume division for Moira's Cabaret has been losing money monthly and the company decided to discontinue the division on January 1, 2021. During 2021 , the company was unable to find a buyer for the costume division and the division had pre-tax losses of $70,000 each month. Assuming that Moira's Cabaret reported pre-tax income of $11,600,000 from all operations, prepare a partial income statement for the company for 2021. Begin with income from continuing operations net of tax (after tax) by filling in the correct values for each line. Assume a 30% tax rate. Input your answers with no dollar signs and round to the nearest dollar. Use a minus sign to indicate negative numbers. Income from continuing operations, net of tax Discontinued operations: Income from discontinued operations, net of tax Net income
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