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Question
steinkuhler, inc. decided on january 1 to discontinue its telescope manufacturing division. on july 1, the divisions assets with a book value of $840,000 are sold for $600,000. operating income from january 1 to june 30 for the division amounted to $100,000. ignoring income taxes, what total amount should be reported on steinkuhlers income statement for the current year under the caption, discontinued operations?
a.$100,000
b.$140,000 loss
c.$240,000 loss
d.$340,000
Answer
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