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For its fiscal year ending October 31, 2022, Riverbed Corp. reports the following partial data shown below. Income before income taxes $502,200 Income tax expense
For its fiscal year ending October 31, 2022, Riverbed Corp. reports the following partial data shown below.
Income before income taxes $502,200
Income tax expense (20% $390,600)78,120
Income from continuing operations 424,080
Loss on discontinued operations111,600
Net income $312,480
The loss on discontinued operations was comprised of a $46,500 loss from operations and a $65,100 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.
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