Question: Please help me solve and fill out the sheets The following condensed income statements of the Jackson Holding Company are presented for the two years

Please help me solve and fill out the sheets

The following condensed income statements of the Jackson Holding Company are presented for the two years ended December 31, 2016 and 2015:

20162015
Sales$15,600,000 $10,200,000
Cost of goods sold9,500,000 6,300,000
Gross profit6,100,000 3,900,000
Operating expenses3,440,000 2,840,000
Operating income2,660,000 1,060,000
Gain on sale of division660,000 ?
3,320,000 1,060,000
Income tax expense996,000 318,000
Net income$2,324,000 $742,000

On October 15, 2016, Jackson entered into a tentative agreement to sell the assets of one of its divisions. The division qualifies as a component of an entity as defined by GAAP. The division was sold on December 31, 2016, for $5,180,000. Book value of the division?s assets was $4,520,000. The division?s contribution to Jackson?s operating income before-tax for each year was as follows:

2016$430,000loss
2015$330,000loss

Assume an income tax rate of 30%.

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Please help me solve and fill out the sheets The following condensed

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