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For the year ending December 31, 2021, Olivo Corporation had income from continuing operations before taxes of $1,220,000 bef

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Answer #1
Income from continuing operations before income taxes 1,340,000
Income tax expense @25% 335000
Income from continuing operations 1,005,000
Discontinued operations
Loss from operations of discontinued component
[162,000- 304,000]
-142000
Income tax benefit 35500
Loss from discontinued operations -106500
Net Income 898,500
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