Shaquille Corporation has operating income of $1.7 million, a loss on write-down of inventory of $200,000, and

Question:

Shaquille Corporation has operating income of $1.7 million, a loss on write-down of inventory of $200,000, and income tax expense of $425,000 for the year ended December 31, 2021, before considering the following item: a $275,000 gain, after tax, from the disposal of an operating segment.


Required:
Prepare the 2021 multiple step income statement for Shaquille Corporation beginning with operating income.

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Financial Accounting

ISBN: 978-1259914898

5th edition

Authors: David Spiceland, Wayne M. Thomas, Don Herrmann

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