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In its proposed 2020 income statement, Hrabik Corporation reports income before income taxes $493,000, income taxes $172,550 (not including unusual items), loss on operation of
In its proposed 2020 income statement, Hrabik Corporation reports income before income taxes $493,000, income taxes $172,550 (not including unusual items), loss on operation of discontinued music division $58,000, gain on disposal of discontinued music division $38,000, 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. (Enter loss using either a negative sign preceding the number e.g. 2,945 or parentheses e.g. (2,945)
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