2 chagti hd microw assignm...02. cho. + Page Layout Q Click to find commands L A: abcd AaBb AaBb C AaBb C AaBb Ccl AA A Normal Heading 1 Heading 2 Heading a Heading 4 New Style Text Toch IT IT Presented below is an income statement for Hussam Company for the year ended December 31, 2020, Hussam Company Income Statement For the Year Ended December 31, 2020 $950,000 Net sales Costs and expenses: Cost of goods sold Selling, general, and administrative expenses Other Income & Expenses Income before income taxes 540,000 80,000 15,000 315,000 Additional information: 1. "Selling, general, and administrative expenses" included a charge of $8.000 for loss on sale of furniture 2. "Other Income & Expenses " consisted of the following items, all before tax: interest expense $6,000, a discontinued operations loss of $18,000, and rent revenues $39.000 3. Tax rate 15% 4. Hussam had 100.000 ordinary shares outstanding during 2020. Instructions Prepare a corrected income statement, including the appropriate per share disclosures. Then answer the following questions. # Question Answer 1 Income from operations for 2020. is: 369000 2 Income before income tax for 2020, is: 363000 3. Income tax for 2020, is: 54450 Income from continuing operations for 2020. is: 308550 5. Net income for 2020.is 290550 69. Check W DELL Section tools Q Click to find commands ESA 4.0 Mbced AaBb AaBbc AaBb AaBbcc RA Normal Heading Heading 2 Heading 3 Heading 4 New Style Test Tonh W ramen nancial position is: DR3 Al Awad Corporation statement of financial position as of December 31, 2020 fo Spet Check D IT DOLL