During 2014 GlenTel Inc sold its interest in a chain
During 2014, GlenTel Inc. sold its interest in a chain of wholesale outlets. This sale took the company out of the wholesaling business completely. The company still operates its retail outlets. Following is a lettered list of sections of an income statement:
a. Income from continuing operations
b. Income from operating a discontinued operation
c. Gain or loss from disposing of a discontinued operation Indicate where each of the eight income-related items for the company would appear on the 2014 income statement by writing the letter of the appropriate section in the blank beside eachitem.
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