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In its proposed 2020 income statement, Hrabik Corporation reports income before income taxes $504,000, income taxes $176,400 (not including unusual items), loss on operation of
In its proposed 2020 income statement, Hrabik Corporation reports income before income taxes $504,000, income taxes $176,400 (not including unusual items), loss on operation of discontinued music division $55,000, gain on disposal of discontinued music division $36,000, and unrealized loss on available-for-sale securities $151,000. The income tax rate is 35%.
Prepare a correct statement of comprehensive income, beginning with income before income taxes.
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