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In its proposed 2022 income statement, Bridgeport Corp, reports income before income taxes $300,000, income taxes $60,000 (not including unusual items), loss on operation
In its proposed 2022 income statement, Bridgeport Corp, reports income before income taxes $300,000, income taxes $60,000 (not including unusual items), loss on operation of discontinued music division $36,000, gain on disposal of discontinued music division $24,000, and unrealized loss on available-for-sale securities $90,000. The income tax rate is 20%. Prepare a correct statement of comprehensive income, beginning with income before income taxes. Income from Continuing Operations Discontinued Operations BRIDGEPORT CORP Partial Statement of Comprehensive Income Loss from Operations of Music Division Gain from Disposal of Music Division Net Income/(Loss) Unrealized Holding Loss of Available-for-Sale Securities $ Partial Stat lent of Income from Continuing Operations Discontinued Operations Loss from Operations of Music Division Gain from Disposal of Music Division Net Income/(Loss) Unrealized Holding Loss of Available-for-Sale Securities $
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