Waves of grain will report for discontinued operations

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Reference no: EM131259490

Waves of Grain, Inc. has several operating divisions. During 2013, it decided to sell one of its divisions that qualifies as a separate component. The division was sold on December 20, 2013, for a net selling price of $350,000. On that date, the assets of the division had a book value of $270,000. For the period January 1 through disposal, the division reported a pretax operating loss of $65,000. The company's income tax rate is 40% on all items of income or loss. Waves of Grain, Inc. generated after-tax profits of $45,000 from its continuing operations. On the income statement for the year ending December 31, 2013, what is the total amount Waves of Grain will report for discontinued operations?

Reference no: EM131259490

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