ember 31 2018 include the Sales revenue Cost of goods sold S

ember 31, 2018, include the Sales revenue Cost of goods sold Selling and administrative expenses Loss on sale of investments Loss on discontinued operations Loss on impairment from continuing operations $6,200,000 3,800,000 1,300,000 200,000 500,000 80,000 Cendant Corporation\'s income from continuing operations before income taxes for 2018 is:

Solution

Calculation of income from continuing operations

Sales revenue $62,00,000
(-) Cost of good sold $38,00,000
Gross profit 24,00,000
(-) Selling & administration expenses 13,00,000
Net income 11,00,000
(-) Loss on impairment from continuing operation 80,000

So income from continuing operations 10,20,000