MC Qu. 106 Colfax Corporation's financial statemen...

Colfax Corporation's financial statements for the current year include the following:

Income from continuing operations (net of taxes)	$	686,400
Prior period adjustment (decrease in prior year net income, net of taxes)	$	124,800
Cash dividends paid to preferred stockholders	$	123,320
Gain from discontinued operations (net of taxes)	$	733,200
Extraordinary loss (net of tax benefit)	$	178,400

On the basis of this information, net income for the current year is:

	$1,241,200.
	$1,419,600.
	$686,400.
	$561,600.