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Bailey Corporation's financial statements for the current year include the following: Income from continuing operations $520,000 Prior period adjustment 90,000 Cash dividends paid to common

Bailey Corporation's financial statements for the current year include the following:

Income from continuing operations $520,000

Prior period adjustment 90,000

Cash dividends paid to common stockholders (102,000)

Gain from discontinued operations 310,000

Now add and subtract (parentheses mean that you should subtract) only those items that are supposed to be on the income statement to get the total net income of the company. On the basis of this information, net income for the current year is

a. $830,000 b. $818,000 c. $1,270,000 d. $1,022,000

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