Slide 12-10 Discontinued Operations Example Income Statement Presentation Income from continuing operations 350,000 Discontinued operations: Loss on operations(net of tax benefit of $45, 000) (105,000) Loss on disposal of assets( net of tax benefits of $30,000) (70,000) Earnings before extraordinary item $ 175,000 Irwin/McGraw-Hill ?The McGraw-Hill Companies, Inc, 1999?The McGraw-Hill Companies, Inc., 1999 Slide 12-10 Irwin/McGraw-Hill Income from continuing operations $ 350,000 Discontinued operations: Loss on ope ra tions (ne t of tax benefit of $45,000) (105,000) Loss on disposa l of a sse ts (ne t of ta x be ne fits of $30,000) (70,000) Earnings before extraordinary item $ 175,000 Income Statement Presentation: Discontinued Operations Example