California Micro - tech Corporations | ||
Partial Income Statement | ||
For the year ended December 31, 2021 | ||
Income from continuing operations before income taxes | $ 77,00,000 | |
Less: | Income tax expense ($77,00,000 X 25%) | $ 19,25,000 |
(a) | Income from continuing operations | $ 57,75,000 |
Discontinued operations: | ||
Loss from operations discontinued components | $ -47,00,000 | |
Income tax benefit ($4700000 X 25%) | $ 11,75,000 | |
(b) | Loss on discontinued operation | $ -35,25,000 |
(a) + (b) | Net Income | $ 22,50,000 |
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