In the 2013 income statement for Foxtrot Co., it would report income from discontinued operations of:

Question

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The income statement would report income from discontinued operations of $13.2 million. This is because it is stated that Foxtrot Co. had a loss from discontinued operations of $2.8 million, but also gained $16 million from the sale of its discontinued operations. Therefore, $16 million minus $2.8 million equals $13.2 million.

In the 2013 Income Statement for Foxtrot Co