On June 30, Amano Corporation discontinued its operations in Mexico. On September 1, Amano disposed of the

Question:

On June 30, Amano discontinued its operations in Mexico. On September 1, Amano disposed of the Mexico facility at a pretax loss of $640,000. The applicable tax rate is 25%. Show the discontinued operations section of Amano’s income statement.

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...