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For its fiscal year ending October 31, 2020, Haas Corporation reports the following partial data shown below. Income before income taxes Income tax expense (34%
For its fiscal year ending October 31, 2020, Haas Corporation reports the following partial data shown below. Income before income taxes Income tax expense (34% x $429,000) Income from continuing operations Loss on discontinued operations Net income $560,000 145,860 414,140 131,000 $283.140 The loss on discontinued operations was comprised of a $55,000 loss from operations and a $76,000 loss from disposal. The income tax rate is 34% on all items (a) Prepare a correct statement of comprehensive income beginning with income before income taxes. (Enter loss using either a negative sign preceding the number eg.-2,945 or parentheseseg. (2.9451) HAAS CORPORATION Partial Income Statement For the Year Ended October 31, 2020 Incore before Income Tax 560000 Income Tax Exe 190,000 locomercesConting Operations 369600 Discontinued Operations son D. Net of income Tax Savines $ Los from Operations. Net of income tax Savings Net Income 283140
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