Question: On November 1 5 , 2 0 1 2 , Jacobs Co . sold a segment of its business for $ 2 , 7 5

On November 15,2012, Jacobs Co. sold a segment of its business for $2,750,000. The net book value of the segment at the time of its disposal was $3,000,000. Jacobs had pretax operating income of $1,750,000 for 2012 which included $380,000 earned by the discontinued segment prior to its disposal. Assume Jacobs tax rate is 30%.
Prepare a partial income statement for Jacobs Co. beginning with pretax income from continuing operations.

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