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For its fiscal year ending October 31,2022 , Martinez Corporation reports the following partial income statement data. The gain from discontinued operations consists of two
For its fiscal year ending October 31,2022 , Martinez Corporation reports the following partial income statement data. The gain from discontinued operations consists of two parts: a $58,000 loss from operations and a $174,000 gain from the disposal of the operation. The income tax rate is 40% on all items. Prepare a correct income statement, beginning with income before income taxes. MARTINEZ CORPORATION Income Statement (Partial) $
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