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Prepare the lower portion of the income statement

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Question - On December 31, 2018, the end of the fiscal year. Revolutionary Industries completed the sale of its robotics business for $10.6 million. The business segment qualifies as a component of the entity according to GAAP. The book value of the assets of the segment was $7.8 million. The income from operations of the segment during 2018 was $4.8 million. Pretax income from continuing operations for the year totaled $128 million. The income tax rate is 40%.

Prepare the lower portion of the 2018 income statement beginning with pretax income from continuing operations. Ignore EPS disclosures.

Reference no: EM131731029

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