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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 $530,000 Income tax expense
For its fiscal year ending October 31, 2020, Haas Corporation reports the following partial data shown below. Income before income taxes $530,000 Income tax expense (27% x $398,000) 107,460 Income from continuing operations 422.540 Loss on discontinued operations 132,000 Net income $290,540 The loss on discontinued operations was comprised of a $54,000 loss from operations and a $78.000 loss from disposal. The income tax rate is 27% 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 parentheses e.g. (2,945)) HAAS CORPORATION Partial Income Statement
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