Hinson 4-3 Income Statement Presentation

Hinson 4-3 Income Statement Presentation - Gain on expense...

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Intermediate Accounting I Assignment 4-3 Income Statement Presentation Jamie Hinson January 23, 2008 Problem 4-4 Micron Corporation Income Statement For the Year Ended December 31, 2006 Income from continuing operations $1,200,000 Discontinued operations: Gain from operations of discontinued component 100,000 (including loss on disposal of $1,200,000)
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Unformatted text preview: Gain on expense recording error 120,000 Loss on sale of chains assets (140,000) (including 160,000 from Jan. Nov.) Gain on early extinguishment of bonds 400,000 Total discontinued operations 480,000 Income tax benefit (480,000 X 30%) 144,000 Net Income $1,344,000...
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