P 4-2 Discontinued operations LO4-4 The following condensed income statements of the Jackson Holding Company are presented for the two years ended December 31, 2024 and 2023: $5,000,000. Book value of the division's assets was $4,400,000. The division's contribution to Jackson's operating income before-tax for each year was as follows: Assume an income tax rate of 25%. Required: 1. Prepare revised income statements according to generally accepted accounting principles, beginning with income from continuing operations before income taxes. Ignore EPS disclosures. discontinued operations? discontinued operations
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