Parrish inc decided on january 1 to discontinue its

Reference no: EM13612821

Parrish, Inc. decided on January 1 to discontinue its telescope manufacturing division. On July 1, the division's assets with a book value of $1,250,000 are sold for $850,000. Operating income from January 1 to June 30 for the division amounted to $125,000. Ignoring income taxes, what total amount should be reported on Parrish's income statement for the current year under the caption, Discontinued Operations?

Reference no: EM13612821

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