E$13\mathrm{.}1($LO $1),$ AP Writing For its fiscal year ending October $31,2022,$ Haas Corporation reports the

following partial data shown below.

The loss on discontinued operations was comprised of a $$50,000$ loss from operations and a $$70,000$ loss

from disposal. The income tax rate is $20\%$ on all items.

instructions

a$.$ Prepare a correct statement of comprehensive income beginning with income before income taxes.

b$.$ Explain in memo form why the income statement data are misleading.