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Income before income taxes $529,200, Income tax expense (20% x $411,600) $82,320, income from continuing operations $446,880, Loss on discontinued operations $117,600, Net Income #329,280,
Income before income taxes $529,200, Income tax expense (20% x $411,600) $82,320, income from continuing operations $446,880, Loss on discontinued operations $117,600, Net Income #329,280, The loss on discontinued operations was comprised of a $49,000 loss from operations and a $68,600 loss from disposal. The income tax rate is 20% on all items. a) prepare a correct partial income statement, beginning with income before income taxes
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