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Matador Company is preparing its 2 0 2 2 financial statements. Matador's bookkeeper has determined Income from Continuing Operations ( ICO ) but is not

Matador Company is preparing its 2022 financial statements. Matador's bookkeeper has determined Income from Continuing Operations (ICO) but is not certain this number is accurate. Matador has a corporate tax rate of 30%.
Use the following information to determine the adjustments, if any, to ICO.
(Hint: if you are adjusting ICO, should the adjustments be pre-tax or net of tax?)
If you need to increase ICO, enter your answer as a positive number; for instance: 3000
If you need to decrease ICO, enter your answer as a negative number; for instance: -3000
If you determine no change is needed to ICO; enter 0.
Put your answers in the provided boxes.
During 2022, Matador declared preferred dividends of $70,000, paid $90,000 for dividends, and received $135,000 for dividends on available-for-sale equity securities. The bookkeeper did not include any of these when calculating ICO. Determine the adjustment to ICO. Matador has a corporate tax rate of 30%.
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