Altman LLC has after-tax income from continuing operations o…
Altman LLC has after-tax income from continuing operations of $1,000,000. At the end of the year, Altman LLC decides to discontinue its wildcat food division. During the year, this division lost $150,000 (before-tax), and the division was sold at year-end at a loss of $700,000 (before-tax). Altman LLC determines that the Wildcat Food Division meets the strategic shift criteria (i.e., discontinued operations). The tax rate is 21%. What is the net income as of year-end?
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