Heavenly Taft, Inc. sold a division of its company during the year for a $400,000 gain. Prior to the date of sale, the year-to-date net loss for the division was $1,000,000. The company's tax rate is 30%. What will be reported on the income statement as a "special item?  

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To determine what will be reported on the income statement as a special item for Heavenly Taft Inc w... View the full answer