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Exercise 13-1 For its fiscal year ending October 31, 2017, Ayayai Corp. reports the following partial data shown below. Income before income taxes Income tax
Exercise 13-1 For its fiscal year ending October 31, 2017, Ayayai Corp. reports the following partial data shown below. Income before income taxes Income tax expense (15% x $450,000) Income from continuing operations Loss on discontinued operations Net income $500,000 67,500 432,500 90,000 $342,500 The loss on discontinued operations was comprised of a $30,000 loss from operations and a $60,000 loss from disposal. The income tax rate is 15% on all items. Prepare a correct statement of comprehensive income, beginning with income before income taxes AYAYAI CORP. Partial Statement of Comprehensive Income Click if you would like to Show Work for this question: Open Show Work
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