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For its fiscal year ending October 31, 2022, Indigo Corporation reports the following partial data shown below. Income before income taxes $540,000 Income tax
For its fiscal year ending October 31, 2022, Indigo Corporation reports the following partial data shown below. Income before income taxes $540,000 Income tax expense (20% x $420,000) 84,000 Income from continuing operations 456,000 Loss on discontinued operations Net income 180,000 $276,000 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. INDIGO CORPORATION Partial Statement of Comprehensive Income $ $
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