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Review picture. Sheffield Inc. reported income from continuing operations of $84,700 and a loss from discontinued operations of $16,800 in 2020, all before income taxes.

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Sheffield Inc. reported income from continuing operations of $84,700 and a loss from discontinued operations of $16,800 in 2020, all before income taxes. All items are fully taxable and deductible for tax purposes. Prepare the bottom of the income statement for Sheffield Inc., beginning with income from continuing operations before income tax. Assume a tax rate of 25%. Sheffield Inc. (Partial) Income Statement $

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