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Exercise 13-01 For its fiscal year ending October 31, 2022, Novak Corp. reports the following partial data shown below. Income before income taxes $486,000 Income

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Exercise 13-01 For its fiscal year ending October 31, 2022, Novak Corp. reports the following partial data shown below. Income before income taxes $486,000 Income tax expense (20% * $378,000) 75,600 Income from continuing operations 410,400 Loss on discontinued operations 108,000 Net income $302,400 The loss on discontinued operations was comprised of a $45,000 loss from operations and a $63,000 loss from disposal. The income tax rate is 20% on all items. Prepare a correct statement of comprehensive income, beginning with income before income taxes NOVAK CORP. Partial Statement of Comprehensive Income For the Year Ended October 31, 2022 Income Before Income Taxes 486,000 Income Tax Expense 97200 Income from Continuing Operations Discontinued Operations Loss from Operations Loss on Disposal 36000 50400 Net Income / (Loss)

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