Question - On November 15, 2012 Jones Co. sold a segment of its business for $2,700,000. The net book value of the segment at the time of its disposal was $2,900,000. Jones had pretax operating income of $3,600,000 for 2012 which included $720,000 in losses from the discontinued segment prior to its disposal. Assume Jones' tax rate is 30%.
REQUIRED: Prepare a partial income statement for Jones Co, beginning with income from continuing operations before taxes.