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For its fiscal year ending October 31, 2017, Swifty Corporation reports the following partial data shown below. Income before income taxes $625,000 Income tax expense
For its fiscal year ending October 31, 2017, Swifty Corporation reports the following partial data shown below. Income before income taxes $625,000 Income tax expense (18% x $516,000) 92,880 Income from continuing operations om continuing operations 5 32,120 Loss on discontinued operations 129,600 Net income $402,520 The loss on discontinued operations was comprised of a $56,100 loss from operations and a $73,500 loss from disposal. The income tax rate is 18% on all items. Prepare a correct statement of comprehensive income beginning with income before income taxes. Prepare a correct statement of comprehensive income beginning with income before income taxes. SWIFTY CORPORATION Partial Statement of Comprehensive Income
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