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What results from discontinue operation report on big money

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Reference no: EM132769288

Problem 1: Big Money Inc. has sold its distribution division in the current year. Big Money has a $120,000 loss from operation of the distribution division and a gain on sale of the division's assets of $40,000. Assuming Big Money has a tax rate of 30%, the results from discontinued operations reported on Big Money's income statement is

Option 1: loss of $84,000.
Option 2: loss of $56,000.
Option 3: loss of $80,000.
Option 4: loss of $44,000.

Reference no: EM132769288

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