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For its fiscal year ending October 31, 2022, Sarasota Corp. reports the following partial data shown below. Income before income taxes Income tax expense (20%
For its fiscal year ending October 31, 2022, Sarasota Corp. reports the following partial data shown below. Income before income taxes Income tax expense (20% * $394,800) Income from continuing operations Loss on discontinued operations Net income $507,600 78,960 428,640 112,800 $315,840 The loss on discontinued operations was comprised of a $47,000 loss from operations and a $65,800 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. SARASOTA CORP. Partial Statement of Comprehensive Income V > >
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