Question
In its proposed 2020 income statement, Hrabik Corporation reports income before income taxes $507,000, income taxes $162,240 (not including unusual items), loss on operation of
In its proposed 2020 income statement, Hrabik Corporation reports income before income taxes $507,000, income taxes $162,240 (not including unusual items), loss on operation of discontinued music division $59,000, gain on disposal of discontinued music division $39,000, and unrealized loss on available-for-sale securities $146,000. The income tax rate is 32%. 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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