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Shack Corporation has operating income of $1.7 million, a loss on sale of investments of $200,000, and income tax expense of $425,000 for the year
Shack Corporation has operating income of $1.7 million, a loss on sale of investments of $200,000, and income tax expense of $425,000 for the year ended December 31, 2024, before considering the following item: a $275,000 gain, after tax, from the disposal of an operating segment. Required: Prepare the 2024 multiple step income statement for Shack Corporation beginning with operating income. Note: Enter your answers in dollars, not millions. (i.e., $5.5 million should be entered as 5,500,000 )
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