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How should facts be reported in pharoah income statement

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Problem 1: During 2020, Pharoah Company disposed of Linda Division, a major component of its business. Pharoah realized a gain of $2960000, net of taxes, on the sale of Linda's assets. Linda's operating losses, net of taxes, were $3540000 in 2020. How should these facts be reported in Pharoah's income statement for 2020?

Reference no: EM132918683

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