rndscon (n pn reor pro In 2017, Indigo Corporation discontinued its retail store

Question

rndscon (n pn reor pro In 2017, Indigo Corporation discontinued its retail store operations to focus on its online opportunities. The elimination of these retail operations is properly considered a discontinued operation. During the current year, its store operations lost $630,000 (net of tax) while its online operations reported a profit of $3,360,000 (net of tax). Indigo sold the store operations at the end of the year at a loss of $1,300,000 (net of tax). Prepare an income statement for 2017 beginning with line item Income from continuing operations. ). Indigo the yearat isst INDIGO CORPORATION Partial Income Statement an income srat For the Year Ended December 31, 2017T

Explanation / Answer

Indigo CORPORATION Partial Income Statement Income From Continuing Operation 3360000 Income From Discontinued Operation Loss From Operation -630000 Loss on disposal of store operation -1300000 -1930000 Net Income 1430000

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