Brief Exercise 14-15 Your answer is partially correct. Try again. On June 30, Holloway Corporation discontinued its operations in Europe. During the year, the operating loss was $300,000 before taxes. On September 1, Holloway disposed of its European facities at a pretax loss of $120,000. The applicable tax rate is 20%. Show the discontinued operations section of the statement of comprehensive income. HOLLOWAY CORPORATION Partial Statement of Comprehensive Income Loss from operations of Loss on disposal of discontinued division