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At the start of 2023, Marine Corporation (Marine) had three divisions: the Boat Division, the Recreation Division, and the Accessories Division. During 2023, Marine disposed
At the start of 2023, Marine Corporation ("Marine") had three divisions: the Boat Division, the Recreation Division, and the Accessories Division. During 2023, Marine disposed of its Boat Division, a major segment of its business. Marine realized a gain of $500,000 on the sale of the Boat Division's assets. During 2023, the Boat Division's operating losses were $800,000. Excluding the Boats Division, Marine generated $1,200,000 of income before income taxes. Marine also had other comprehensive income in 2023 of $130,000, which was unrelated to the Boat Division. All of the foregoing dollar amounts are before taxes. The applicable tax rate is 30% on all items of income, expense, gain, and loss. Required: Prepare a partial statement of comprehensive income for Marine Corporation for the year ended December 31, 2023. Use the following table format for your answ
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