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Business, 30.09.2019 21:30 DEVORIA2001

On may 31, 20x1, the arlene corporation adopted a plan to sell its cosmetics line of business, considered a component of the entity. the assets of the component were sold on october 13, 20 x 1, for $1,200,000. the book value of those assets equal $1,000,000 at the time of the sale. the component generated an operating loss of $300,000 from january 1, 20x1, through disposal. the company’s tax rate is 25%. for what amount would the company report income from discontinued operations?

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