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BE14-14 An inexperienced accountant for Ming Limited showed the following in the income statement: income before income taxes and discontinued operations 400,000, income from operation

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BE14-14 An inexperienced accountant for Ming Limited showed the following in the income statement: income before income taxes and discontinued operations 400,000, income from operation of discontinued retail division (before taxes) 10,000, and loss from disposal of discontinued retail division (before taxes) 80,000. The applicable tax rate is 30%. Prepare a correct income statement

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