Question

In 2011, Office Products decided to sell its furniture division because it had been losing money for several years. During 2011, the furniture division lost $ 140,000. The tax savings related to the loss amounted to $ 25,000. The division was sold at a loss of $ 350,000, and the tax savings related to the loss on the sale was $ 50,000. How would these amounts be reported on the income statement for the year ended December 31, 2011?




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  • CreatedSeptember 01, 2014
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