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Corona Corporation's financial statements for the current year include the following: Income from continuing operations $ 636,800 Income tax expense $ 140,000 Prior period adjustment
Corona Corporation's financial statements for the current year include the following: Income from continuing operations $ 636,800 Income tax expense $ 140,000 Prior period adjustment (increase in prior year net income, net of taxes) $ 135,500 Cash dividends paid to preferred stockholders $ 272,040 Gain from discontinued operations (net of taxes) $ 417,556 Non-recurring loss $ 128,400 On the basis of this information, net income for the current year is:
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