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Please Read the Instructions and solve the question properly. 6 hours required for this question to be solved. Q5: Snowman Corporation needs your help in

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Please Read the Instructions and solve the question properly. 6 hours required for this question to be solved.

Q5: Snowman Corporation needs your help in preparing a partial income statement. The information you need is given below, Tax 20% Operating Income $200,000 Interest Expense $20,000 Loss from selling a business subsidiary (before tax) $ 56,000 Loss due to unusual and infrequent item (before tax) $40,000 Gain due to extraordinary item $51,000 Required: Prepare the partial income statement. (Marks 3)

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