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What effect transaction have on pretax income

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Question - Assume that during 2018, Chevy closes a distribution facility due to increasing competition in Japan At the time of the closure in 2018, Chevy anticipates that the land and building, which are carried on the balance sheet for €100, will only be worth €70 and Chevy owes €50 in severance to employees who have been laid off to be paid as follows: €30 in 2019 and €20 in 2020. In 2019, the land and building are sold for €70. What effect would this transaction have on pretax income, total assets and total liabilities during 2018, 2019 and 2020?

Reference no: EM132629827

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