Answer:
Partial Income Statement
REVOLUTIONARY
INDUSTRIES Partial Income Statement For the Year Ended December 31, 2021 |
|
Particulars | Amount ($) |
Income from continuing operations before income taxes | 12,100,000 |
Income tax expense (12,100,000*25%) | (3,025,000) |
Income from continuing operations | 9,075,000 |
Discontinued operations: | |
Gain from operations of discontinued component (9,200,000-7,100,000+4,100,000) | 6,200,000 |
Income tax expense (6,200,000*25%) | (1,550,000) |
Gain on discontinued operations | 4,650,000 |
Net income | 13,725,000 |
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