RAR Corporations accounting records include the following items, listed in no particular order, at December 31, 2015:

RAR Corporation’s accounting records include the following items, listed in no particular order, at December 31, 2015:

The income tax rate for RAR Corporation is 30%.
Prepare RAR’s income statement for the year ended December 31, 2015. Omit earnings per share. Use the multi-stepformat.

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Other Revenues and (Expenses) Net Sales Gain on Discontinued Operations (15,000) 177,000 12,000 Extraordinary Loss 7,000 Cost of Goods Sold 73,000 Operating Expenses 55,000