Question

In 2010, Earthscope Company decided to sell its satellite sales division, even though the division had been profitable during the year. During 2010, the satellite division earned $ 54,000 and the taxes on that income were $ 12,500. The division was sold for a gain of $ 750,000, and the taxes on the gain amounted to $ 36,700. How would these amounts be reported on the income statement for the year ended December 31, 2010?



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  • CreatedSeptember 01, 2014
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