Exercises 13-1

For its fiscal year ending October 31, 2017, Haas Corporation reports the following partial data shown below.

Income before income taxes		$540,000
Income tax expense (20% $420,000)		84,000
Income from continuing operations		456,000
Loss on discontinued operations		120,000
Net income		$336,000

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