H Your answer is incorrect. Try again. Kingbird, Inc. disposes of an unprofitabl

Question

H Your answer is incorrect. Try again. Kingbird, Inc. disposes of an unprofitable segment of its business. The operation of the segment suffered a $212000 loss in the year of disposal. The loss on disposal of the segment was $112000. If the tax rate is 30%, and income before income taxes was $1612000 O the income tax expense on the income before discontinued operations is $421200. the income from continuing operations is $1128400 O net income is $1288000 the losses from discontinued operations are reported net of income taxes at $324000

Explanation / Answer

Income from continuing operations = 1612000*(1-0.3)= 1128400 Option 2 is correct

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