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Prepare a partial income statement

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Question - Sandhill Ltd. has profit from continuing operations of $220,000 for the year ended December 31, 2017. It also has the following before considering income tax: a net gain of $70,000 from the discontinuance of a component of the entity, which includes a $106,000 profit from the operation of the segment and a $36,000 loss on its disposal. Assume that the income tax rate on all items is 33%.

Prepare a partial income statement, beginning with profit from continuing operations, using the all-inclusive format.

Reference no: EM132611220

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