For the fiscal year ended June 30, 2006, Disc-Seg Company:
(1) Had income from continuing operations of $1,000,000 before income taxes
(2) Had no temporary differences between pre-tax financial income and taxable income
(3) Was subject to an income tax rate of 40%
(4) Disposed of an operating segment having net assets of $600,000 for $550,000 cash. For the period July 1, 2005, through the disposal date, the discontinued segment had a pre-tax operating loss of $140,000.
Prepare the bottom portion of Disc-Seg Company's income statement for the year ended June 30, 2006, beginning with income from continuing operations before income taxes. Disregard earnings per share data.

Question

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The Answer of For the fiscal year ended June 30, 2006, Disc-Seg Company:
(1) Had income from continuing operations of $1,000,000 before income taxes
(2) Had no temporary differences between pre-tax financial income and taxable income
(3) Was subject to an income tax rate of 40%
(4) Disposed of an operating segment having net assets of $600,000 for $550,000 cash. For the period July 1, 2005, through the disposal date, the discontinued segment had a pre-tax operating loss of $140,000.
Prepare the bottom portion of Disc-Seg Company's income statement for the year ended June 30, 2006, beginning with income from continuing operations before income taxes. Disregard earnings per share data.

For the Fiscal Year Ended June 30, 2006, Disc-Seg Company