Ace Corporation decided to sell its medical supplies business segment for $500,000,on September 1,Year 1.The disposal date is November 1,Year 1.The book value of the segment's net assets is $650,000.The pre-tax income for the segment for the period January 1 - September 1,Year 1,was a loss of $90,000; the pre-tax income for the segment for September and October was a loss of $20,000.Assuming a tax rate of 40%,choose the correct reporting for discontinued operations in the income statement of Ace Corporation,for the year ended December 31,Year 1.

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The Answer of Ace Corporation decided to sell its medical supplies business segment for $500,000,on September 1,Year 1.The disposal date is November 1,Year 1.The book value of the segment's net assets is $650,000.The pre-tax income for the segment for the period January 1 - September 1,Year 1,was a loss of $90,000; the pre-tax income for the segment for September and October was a loss of $20,000.Assuming a tax rate of 40%,choose the correct reporting for discontinued operations in the income statement of Ace Corporation,for the year ended December 31,Year 1.

Ace Corporation Decided to Sell Its Medical Supplies Business Segment