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QUESTION
On June 30 Gomez Corporation discontinued its operations in Mexico. On September 1 Gomez disposed of the Mexico facility at a pretax loss of...
On June 30 Gomez Corporation discontinued its operations in Mexico. On September 1 Gomez disposed of the Mexico facility at a pretax loss of $680,000. The applicable tax rate is 25%. Show the discontinued operations section of Gomez's income statement. (If amount decreases net income put either a negative sign preceding the number, e.g. -45 or parenthesis, e.g. (45).)
