Financial accounting 16th Edition by Jan Williams,Susan Haka,Mark Bettner ,Joseph Carcello

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Discontinued Operations
Wabash, Inc., had revenue and expenses from ongoing business operations for the current year of $480,000 and $430,000, respectively.uring the year, the company sold a division which had revenue and expenses (not included in the previous figures) of $100,000 and $75,000, respectively.he division was sold at a loss of $55,000.ll items are subject to an income tax rate of 40 per­cent.repare an abbreviated income statement for Wabash for the year.