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Example: During the year, Apex Co. decided to discontinue an unprofitable component of the company....

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Accounting

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Example: During the year, Apex Co. decided to discontinue an unprofitable component of the company. The component had a net loss from operations during the period of $150,000 and as of the end of the year, assets relating to this segment had a book value of $260,000 whereas the market value of these assets were $160,000. Apex reported income from continuing operations of $128,387. All items are taxed at 30%. How would this item appear in the income statement? 270 000 instead of $160,000

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