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In its proposed 2020 income statement, Hrabik Corporation reports income before income taxes $509,000, income taxes $137,430 (not including unusual items), loss on operation of
In its proposed 2020 income statement, Hrabik Corporation reports income before income taxes $509,000, income taxes $137,430 (not including unusual items), loss on operation of discontinued music division $55,000, gain on disposal of discontinued music division $41,000, and unrealized loss on available-for-sale securities $155,000. The income tax rate is 27%. 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).) HRABIK CORPORATION Partial Statement of Comprehensive Income Income before income taxes $ Income tax expense Income from continuing operations Net income / (loss) Loss from disposal of discontinued division $ Gain from disposal of discontinued division Net income / (loss) either a negative sign preceding the number e.g. -2,945 or parentheses e.g. (2,945).) HRABIK CORPORATION Partial Statement of Comprehensive Income Income before income taxes $ Income tax expense Income from continuing operations Net income / (loss) Loss from disposal of discontinued division $ Gain from disposal of discontinued division Net income / (loss) $ Click if you would like to Show Work for this question: Open Show Work
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