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For its fiscal year ending October 31, 2022, Novak Corp. reports the following partial data shown below. Income before income taxes $486,000 Income tax expense

For its fiscal year ending October 31, 2022, Novak Corp. reports the following partial data shown below.

Income before income taxes $486,000
Income tax expense (20% $378,000) 75,600
Income from continuing operations 410,400
Loss on discontinued operations 108,000
Net income $302,400

The loss on discontinued operations was comprised of a $45,000 loss from operations and a $63,000 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.

NOVAK CORP. Partial Statement of Comprehensive Income choose an accounting period For the Year Ended October 31, 2022October 31, 2022For the Month Ended October 31, 2022

select a comprehensive income item Total ExpensesRevenueNet Income / (Loss)Income Tax ExpenseLoss on DisposalDiscontinued OperationsLoss from OperationsOther Comprehensive IncomeUnrealized Holding Loss of Available-for-Sale SecuritiesDividendsExpensesTotal RevenuesIncome Before Income TaxesIncome from Continuing OperationsRetained EarningsComprehensive Income

$enter a dollar amount

select a comprehensive income item ExpensesOther Comprehensive IncomeLoss on DisposalRevenueRetained EarningsIncome from Continuing OperationsTotal RevenuesUnrealized Holding Loss of Available-for-Sale SecuritiesIncome Before Income TaxesLoss from OperationsTotal ExpensesDiscontinued OperationsDividendsIncome Tax ExpenseNet Income / (Loss)Comprehensive Income

enter a dollar amount

select a comprehensive income item RevenueDiscontinued OperationsTotal RevenuesExpensesLoss on DisposalDividendsComprehensive IncomeLoss from OperationsUnrealized Holding Loss of Available-for-Sale SecuritiesIncome from Continuing OperationsOther Comprehensive IncomeTotal ExpensesRetained EarningsNet Income / (Loss)Income Before Income TaxesIncome Tax Expense

enter a subtotal of the two previous amounts

select a comprehensive income item ExpensesRetained EarningsRevenueIncome Tax ExpenseLoss on DisposalDividendsTotal RevenuesOther Comprehensive IncomeNet Income / (Loss)Unrealized Holding Loss of Available-for-Sale SecuritiesIncome from Continuing OperationsIncome Before Income TaxesDiscontinued OperationsComprehensive IncomeTotal ExpensesLoss from Operations

select a comprehensive income item Total RevenuesIncome from Continuing OperationsOther Comprehensive IncomeNet Income / (Loss)Unrealized Holding Loss of Available-for-Sale SecuritiesComprehensive IncomeTotal ExpensesLoss on DisposalDividendsIncome Tax ExpenseRevenueIncome Before Income TaxesDiscontinued OperationsLoss from OperationsExpensesRetained Earnings

$enter a dollar amount

select a comprehensive income item Income Tax ExpenseLoss on DisposalDiscontinued OperationsTotal ExpensesIncome from Continuing OperationsLoss from OperationsOther Comprehensive IncomeIncome Before Income TaxesTotal RevenuesExpensesNet Income / (Loss)Retained EarningsUnrealized Holding Loss of Available-for-Sale SecuritiesComprehensive IncomeRevenueDividends

enter a dollar amount

enter a subtotal of the two previous amounts

select a summarizing line for this part of statement Income Tax ExpenseDiscontinued OperationsComprehensive IncomeTotal RevenuesLoss from OperationsLoss on DisposalIncome from Continuing OperationsDividendsTotal ExpensesIncome Before Income TaxesOther Comprehensive IncomeRevenueRetained EarningsUnrealized Holding Loss of Available-for-Sale SecuritiesNet Income / (Loss)Expenses

enter a total amount for this part

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