Question
help pls Billy's Book Corporation has operating income of $1.35 million, a loss on sale of investments of $165,000, and income tax expense of $337,500
help pls Billy's Book Corporation has operating income of $1.35 million, a loss on sale of investments of $165,000, and income tax expense of $337,500 for the year ended December 31, 2024, before considering the following item: a $240,000 gain, after tax, from the disposal of an operating segment. Required: Prepare the 2024 multiple step income statement for Billy's Book Corporation beginning with operating income. (Enter your answer in dollars, not millions. (i.e., $5.5 million should be entered as 5,500,000 ).) Billy's Book Corporation has operating income of $1.35 million, a loss on sale of investments of $165,000, and income tax expense of $337,500 for the year ended December 31, 2024, before considering the following item: a $240,000 gain, after tax, from the disposal of an operating segment. Required: Prepare the 2024 multiple step income statement for Billy's Book Corporation beginning with operating income. (Enter your answer in dollars, not millions. (i.e., $5.5 million should be entered as 5,500,000 ).)
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