Reference no: EM132499056

Question - Dangerous Mix Inc. adopted a formal plan to sell the division. The sale was completed on April 30, 2019. On December 21, 2019, the component was sold for $150,000. On the date of sale, the book value of the assets of the pesticides division $400,000. The before-tax loss from operations of the division for the year was $200,000. The company's effective tax rate is 50%. The income from continuing operations before income tax (excluding restructuring costs as a result of the discontinued component) for 2019 was $1,000,000. The company incurred restructuring costs of $100,000 as a result of the retirement of the discontinued component.

Beginning with a corrected income from continuing operations before income tax, provide the rest of the balance sheet, ending with the net income of the firm.