In its proposed 2022 income statement, Concord Corporation reports income before income taxes $529,000, income taxes $105,800 (not including unusual items), loss on operation of discontinued music division $66,700, gain on disposal of discontinued music division $30,300, and unrealized loss on available-for-sale securities $132,000. The income tax rate is 20%. Prepare a correct partial income statement, beginning with income before income taxes, and a statement of comprehensive income for the year ended December 31, 2022.

CONCORD CORPORATION Partial Income Statement $