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During 2022, Bramble Corporation had the following amounts, all before calculating tax effects: income before income taxes $509,000, loss on operation of discontinued music
During 2022, Bramble Corporation had the following amounts, all before calculating tax effects: income before income taxes $509,000, loss on operation of discontinued music division $64,000, gain on disposal of discontinued music division $36,000, and unrealized loss on available-for-sale securities $150,000. The income tax rate is 34%. Prepare a partial income statement, beginning with income before income taxes, and a statement of comprehensive income for the year ended December 31, 2022. (Enter loss using either a negative sign preceding the number e.g. -2,945 or parentheses e.g. (2,945).) Income before income taxes Income tax expense Income from continuing operations Discontinued operations BRAMBLE CORPORATION Income Statement (Partial) For the Year Ended December 31, 2022 Loss from operations of music division SA $ -42,240.00 A 509,000 173060 i 682060
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