Kobes Clinics provides health services and career counseling. Net income from the health services business this year

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Kobe’s Clinics provides health services and career counseling. Net income from the health services business this year is $32 million after tax. During the year, Kobe’s Clinics sold the career counseling side of the business at a loss after tax of $7.5 million. Show how Kobe’s Clinics would report this loss in the income statement, beginning with income from continuing operations of $32 million.

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Financial Accounting

ISBN: 978-0078025549

3rd edition

Authors: J. David Spiceland, Wayne Thomas, Don Herrmann

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