Taylor Corporation sold Division M a business component). It was determined that the pretax loss from the operations of Division M during the year totaled $50,000 and that a pretax gain of $125,000 was realized on the sale of the division. The tax rate is 35%.
Required:
In good form, prepare the appropriate section of the income statement.

Question

Quizplus · Accepted Answer

The Answer of Taylor Corporation sold Division M a business component). It was determined that the pretax loss from the operations of Division M during the year totaled $50,000 and that a pretax gain of $125,000 was realized on the sale of the division. The tax rate is 35%.
Required:
In good form, prepare the appropriate section of the income statement.

Taylor Corporation Sold Division M a Business Component)