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During 2022, Concord Corporation had the following amounts, all before calculating tax effects: income before income taxes $509,000, loss on operation of discontinued music division
During 2022, Concord Corporation had the following amounts, all before calculating tax effects: income before income taxes $509,000, loss on operation of discontinued music division $55,000, gain on disposal of discontinued music division $41,000, and unrealized loss on available-for-sale securities $155,000. The income tax rate is 27%. 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 eg. (2,945).) CONCORD CORPORATION Income Statement (Partial) For the Year Ended December 31, 2022 $ CONCORD CORPORATION Statement of Comprehensive Income $
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