Chapter 4 The Income Statement and Statement of Cash Flows12

Chapter 4 The Income Statement and Statement of Cash Flows12

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Brief Exercise 4-8 CALIFORNIA MICROTECH CORPORATION Partial Income Statement For the Year Ended December 31, 2011 Income from continuing operations before income taxes. .. $ 5,800,000 Income tax expense* . .......................................................... 1,740,000 Income from continuing operations . ................................... $ 4,060,000 Discontinued operations: Loss from operations of discontinued component** .
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: ...... (3,600,000) Income tax benefit . ........................................................... 1,080,000 Loss on discontinued operations . ..................................... (2,520,000 ) Net income . ......................................................................... $ 1,540,000 * $5,800,000 x 30% ** Includes only the operating loss. There is no impairment loss....
View Full Document

This note was uploaded on 01/08/2011 for the course COMM 140x taught by Professor Carver during the Spring '10 term at USC.

Ask a homework question - tutors are online