During 2014, Lopez Corporation disposed of Pine Division, a major component of its business. Lopez...
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Accounting
During 2014, Lopez Corporation disposed of Pine Division, a major component of its business. Lopez realized a gain of $2,400,000, net of taxes, on the sale of Pines assets. Pines operating losses, net of taxes, were $2,800,000 in 2014. How should these facts be reported in Lopezs income statement for 2014?
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