ABC Company reports income before income taxes of $2,400,000 and had a discontinued operations loss of $800,000. If the tax rate is 30%, the

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To find income from continuing operations, we need to subtract the discontinued operations loss from the income before income taxes: $2,400,000 - $800,000 = $1,600,000. Then, we apply the tax rate of 30% to find the net income from continuing operations: $1,600,000 x 0.30 = $480,000. Finally, we subtract the tax from the income from continuing operations to find the final answer: $1,600,000 - $480,000 = $1,120,000. Therefore, the correct answer is C) income from continuing operations is $1,680,000. The other options are incorrect: A) is the gross income from continuing operations, B) does not reflect how the loss would be reported, and D) is an incorrect calculation of the tax on the loss.

ABC Company Reports Income Before Income Taxes of $2,400,000 and Had