Registration of securities issued in business combination transactions

DISCONTINUED OPERATIONS (Tables)

v3.21.2
DISCONTINUED OPERATIONS (Tables)
6 Months Ended 12 Months Ended
Jun. 30, 2021
Dec. 31, 2020
Discontinued Operations and Disposal Groups [Abstract]    
The financial results of the discontinued operations are as follows:

The financial results of the discontinued operations are as follows:

                         
    Three Months Ended June 30   Six Months Ended June 30
    2021   2020   2021   2020
Sales   $ —   $ —   $ —   $ 3,025,000
Cost of sales     —     —     —     2,050,000
Selling, general and administrative expenses     —     —     —     500,000
Restructuring expenses     —     445,000     —     764,000
Gain on sale of assets     —     122,000     —     (2,039,000)
Operating income before income taxes     —     (567,000)     —     1,750,000
Income tax expense     —     2,000     —     5,000
Income from discontinued operations   $ —   $ (569,000)   $ —   $ 1,745,000

The financial results of the discontinued operations are as follows:

 

                 
    Year Ended December 31  
    2020     2019  
             
Sales   $ 3,024,000     $ 18,879,000  
Cost of sales     2,167,000       12,965,000  
Selling, general and administrative expenses     520,000       2,684,000  
Restructuring expenses     960,000       —  
(Gain) loss on sale of assets     (2,247,000 )     (2,990,000 )
Other income     —       —  
Operating income before income taxes     1,624,000       6,220,000  
Income tax expense     —       2,000  
Income (loss) from discontinued operations   $ 1,624,000     $ 6,218,000  
The assets and liabilities of this discontinued operation that are classified as held for sale are as follows:  

The assets and liabilities of this discontinued operation that are classified as held for sale are as follows:

 

      December 31, 2020       December 31, 2019  
             
Trade accounts receivable   $ —     $ 2,235,000  
Inventories     —       3,009,000  
Other current assets     —       93,000  
Total current assets   $ —     $ 5,337,000  
                 
                 
Property, plant, and equipment   $ —     $ 883,000  
Total noncurrent assets   $ —     $ 883,000  
                 
Total assets held for sale   $ —     $ 6,220,000  
                 
                 
Accounts payable   $ —     $ 1,111,000  
Other accrued liabilities     —       82,000  
Total liabilities held for sale   $ —     $ 1,193,000