CALIFORNIA MICROTECH CORPORATION | |
Partial Income Statement | |
For the Year Ended December 31, 2021 | |
$ | |
Income from continuing operations before income taxes | 7,300,000.00 |
Less Income tax expense (25%) | 1,825,000.00 |
Income from continuing operations | 5,475,000.00 |
Discontinued operations: | |
Loss from operations of discontinued component | (4,100,000.00) |
Income tax benefit (25%) | 1,025,000.00 |
Loss on discontinued operations | (3,075,000.00) |
Net income (5,475,000 - 3,075,000) | 2,400,000.00 |
The semiconductor business of the California Microtech Corporation qualifies as a component of the entity according...
The semiconductor business of the California Microtech Corporation qualifies as a component of the entity according to GAAP.. The book value of the assets of the segment was $13 million. The loss from operations of the segment during 2021 was $4.8 million. Pretax income from continuing operations for the year totaled $7.8 million. The income tax rate is 25%. Assume that the semiconductor segment was not sold during 2021 but was held for sale at year-end. The estimated fair value...
The semiconductor business of the California Microtech Corporation qualifies as a component of the entity according to GAAP. The book value of the assets of the segment was $18 million. The loss from operations of the segment during 2021 was $4.5 million. Pretax income from continuing operations for the year totaled $7.2 million. The income tax rate is 25%. Assume that the semiconductor segment was not sold during 2021 but was held for sale at year-end. The estimated fair value...
The semiconductor business of the California Microtech Corporation qualifies as a component of the entity according to GAAP. The book value of the assets of the segment was $13 million. The loss from operations of the segment during 2021 was $3.80 million Pretax income from continuing operations for the year totaled $6.00 million. The income tax rate is 25%. Assume instead that the estimated fair value of the segment's assets, less costs to sell , on December 31 was $12...
The semiconductor business of the California Microtech Corporation qualifies as a component of the entity according to GAAP. The book value of the assets of the segment was $8 million. The loss from operations of the segment during 2021 was $4.60 million Pretax income from continuing operations for the year totaled $760 million. The income tax rate is 25%. Assume instead that the estimated fair value of the segment's assets, less costs to sell on December 31 was $6 million...
The semiconductor business of the California Microtech Corporation qualifies as a component of the entity according to GAAP. The book value of the assets of the segment was $10 million. The loss from operations of the segment during 2021 was $4.70 million. Pretax income from continuing operations for the year totaled $7.70 million. The income tax rate is 25%. Assume instead that the estimated fair value of the segment's assets, less costs to sell, on December 31 was $8 million...
The semiconductor business of the California Microtech Corporation qualifies as a component of the entity according to GAAP. The book value of the assets of the segment was $12 million. The loss from operations of the segment during 2021 was $3.90 million. Pretax income from continuing operations for the year totaled $6.50 million. The income tax rate is 25%. Assume instead that the estimated fair value of the segment's assets, less costs to sell, on December 31 was $10 million...
The semiconductor business of the California Microtech Corporation qualifies as a component of the entity according to GAAP.. The book value of the assets of the segment was $8 million. The loss from operations of the segment during 2021 was $3.3 million. Pretax income from continuing operations for the year totaled $7.0 million. The income tax rate is 25%. Assume that the semiconductor segment was not sold during 2021 but was held for sale at year-end. The estimated fair value...
The semiconductor business of the California Microtech Corporation qualifies as a component of the entity according to GAAP.. The book value of the assets of the segment was $18 million. The loss from operations of the segment during 2021 was $4.5 million. Pretax income from continuing operations for the year totaled $7.2 million. The income tax rate is 25%. Assume that the semiconductor segment was not sold during 2021 but was held for sale at year-end. The estimated fair value...
The semiconductor business of the California Microtech Corporation qualifies as a component of the entity according to GAAP The book value of the assets of the segment was $11 million. The loss from operations of the segment during 2021 was $400 million Pretax income from continuing operations for the year totaled $720 million. The income tax rate is 25%. Assume instead that the estimated fair value of the segment's assets, less costs to sell, on December 31 was $9 million...
4 Homework The semiconductor business of the California Microtech Corporation qualifies as a component of the entity according to GAAP. The book value of the assets of the segment was $17 million. The loss from operations of the segment during 2021 was $3.2 million Pretax income from continuing operations for the year totaled $6.0 million. The income tax rate is 25%. Assume that the semiconductor segment was not sold during 2021 but was held for sale at year-end. The estimated...