Question: A company has a segment that it decides to sell
A company has a segment that it decides to sell, effective 1 September, after incur-ring operating losses of $ 45,000 to date in the fiscal year. The segment, with net assets of $ 310,000, was sold for $ 240,000 on 1 November, after incurring further operating losses of $ 30,000. Assume a tax rate of 25%. What amounts would be disclosed in the income statement?
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