Tate Corporation Sold Division X (A Business Component)

Essay

Tate Corporation sold Division X (a business component).It was determined that the pretax loss from the operations of Division X during the year totaled $10, 000 and that a pretax gain of $20, 000 was realized on the sale of the division.The tax rate is 30%.
Required:
In good form, prepare the appropriate section of the income statement.