Kobe's Clinics provides health services and career counseling. Net income from the health services business this...
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Kobe's Clinics provides health services and career counseling. Net income from the health services business this year is $24 million after tax. During the year, Kobe's Clinics sold the career counseling side of the business at a loss after tax of $6.7 million. Show how Kobe's Clinics would report this loss in the income statement, beginning with income from continuing operations of $24 million. (Enter your answers in dollars, not millions (i.e., $5.5 million should be entered as 5,500,000).) Income from continuing operations Discontinued operation: Loss from sale of the career counseling division, net of tax Kobe's Clinics provides health services and career counseling. Net income from the health services business this year is $24 million after tax. During the year, Kobe's Clinics sold the career counseling side of the business at a loss after tax of $6.7 million. Show how Kobe's Clinics would report this loss in the income statement, beginning with income from continuing operations of $24 million. (Enter your answers in dollars, not millions (i.e., $5.5 million should be entered as 5,500,000).) Income from continuing operations Discontinued operation: Loss from sale of the career counseling division, net of tax
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Related Book For
Financial Accounting
ISBN: 978-0077862268
2nd edition
Authors: J. David Spiceland, Wayne Thomas, Don Herrmann
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