Business, 21.11.2019 05:31 bean9840

On december 31, 2016, the end of the fiscal year, california microtech corporation completed the sale of its semiconductor business for $17 million. the business segment qualifies as a component of the entity according to gaap. the book value of the assets of the segment was $16 million. the loss from operations of the segment during 2016 was $4.6 million. pretax income from continuing operations for the year totaled $6.7 million. the income tax rate is 30%. prepare the lower portion of the 2016 income statement beginning with pretax income from continuing operations. ignore eps disclosures. (amounts to be deducted and negative amounts should be indicated with a minus sign. enter your answers in whole dollars

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