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Question 1 of 10 < > 4.87/7 E During 2022. Bonita Corporation had the following amounts, all before calculating tax effects: income before income
Question 1 of 10 < > 4.87/7 E During 2022. Bonita Corporation had the following amounts, all before calculating tax effects: income before income taxes $493,000. loss on operation of discontinued music division $56,000, gain on disposal of discontinued music division $40,000, and unrealized loss on available-for-sale securities $158,000. The income tax rate is 29%. Prepare a partial income statement, beginning with income before income taxes, and a statement of comprehensive income for the year ended December 31, 2022. (Enter loss using either a negative sign preceding the number eg.-2,945 or parentheses e.g. (2,945).) BONITA CORPORATION Income Statement (Partial) For the Year Ended December 31, 2022 Income before income taxes Income tax expense Income from continuing operations Discontinued operations Loss from operations of music division 56000 Gain from disposal of music division Net income/(loss) Net income/(loss) Other comprehensive income 28400 BONITA CORPORATION Statement of Comprehensive Income For the Year Ended December 31, 2022 Unrealized holding loss on available-for-sale securities v Comprehensive income 493000 142970 350030 27600 322430 $ 322430 112180 210250
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