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Howard Co.'s 2021 income from continuing operations before income taxes was $294,000. Howard Co. reported before-tax income on discontinued operations of $62,000. All tax
Howard Co.'s 2021 income from continuing operations before income taxes was $294,000. Howard Co. reported before-tax income on discontinued operations of $62,000. All tax items are subject to a 25% tax rate. In its income statement for 2021, Howard Co. would show the following line-item amounts for income tax expense and net income:
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Managerial Accounting
Authors: Karen Wilken Braun, Wendy Tietz, Walter Harrison, Rhonda Pyp
1st Canadian Edition
978-0132490252, 132490250, 978-0176223311
