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fill in the blanks In its proposed 2020 income statement, Hrabik Corporation reports income before income taxes $490,000, income taxes $156,800 (not including unusual items),
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In its proposed 2020 income statement, Hrabik Corporation reports income before income taxes $490,000, income taxes $156,800 (not including unusual items), loss on operation of discontinued music division $61,000, gain on disposal of discontinued music division $42,000, and unrealized loss on available-for-sale securities $154,000. The income tax rate is 32%. Prepare a correct statement of comprehensive income, beginning with income before income taxes. (Enter loss using either a negative sign preceding the number e.g. -2,945 or parentheses e.g. (2,945).) HRABIK CORPORATION Partial Statement of Comprehensive Income Income before income taxes $4490,000 Income tax expense 1156,800 333,200 Income from continuing operations Discontinued operations Loss from operations of discontinued division Gain from disposal of discontinued division 128,560 Net Income / (loss) 320,280 Unrealized holding loss on available-for-sale securities Comprehensive income $215,560Step by Step Solution
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