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Stacy Corporation had income before income taxes for 2014 of $6,341,000. In addition, it suffered an unusual and infrequent pretax loss of $786,800 from a
Stacy Corporation had income before income taxes for 2014 of $6,341,000. In addition, it suffered an unusual and infrequent pretax loss of $786,800 from a volcano eruption. The corporations tax rate is 30%. Prepare a partial income statement for Stacy beginning with income before income taxes. The corporation had 4,904,000 shares of common stock outstanding during 2014
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