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Preparing the Nonoperating Items Section of an Income Statement Gomez Inc. reported the following pretax amounts for 2020. Assuming an income tax rate of 25,
Preparing the Nonoperating Items Section of an Income Statement Gomez Inc. reported the following pretax amounts for 2020. Assuming an income tax rate of 25, prepare the income statement beginning with Operating income Ignore the earnings per share disclosures Account 2020 Loss from discontinued operations 144.000 Gain on sale of investments 15.000 Interest expense 54000 Operating income 1.200,000 Los on sale of patent 144,000 Do not use negative signs with any of your answers Enter Other expenses and losses items in alphabetical order Atlanta Corp Income Statement For the Year Ended December 31, 2020 Other revenuts and gains . . Other expenses and losses Interest expense o O o O . Income from continuing operations . . 0 5
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