• • At December $31,2022$ Glest Glesty, a company located in the Bahamas had net income before discontinued operations and extraordinary item of $$5,000,000.$  The tax rate is $40\%.$ 

  •  Additional information is as follows:$-$

    a$.$ During the year, Glest Glesty discontinued its Bottling Department and incurred additional income of $$700,000.$

    b$.$ A first time snow storm caused significant damage to Glest Glesty in the amount of $$200,000.$ 

    What is the net income for Glest Glest company?

 

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