Question
The following table shows the balances from various accounts in the adjusted trial balance for UnLink Telecom Corp. as of December 31, 2020. a. Interest
The following table shows the balances from various accounts in the adjusted trial balance for UnLink Telecom Corp. as of December 31, 2020. a. Interest income 30,100 b. Depreciation expense, equipment 89,000 c. Loss on sale of office equipment 60,700 d. Accounts payable 102,100 e. Other operating expenses 236,600 f. Accumulated depreciation, equipment 189,400 g. Gain from settling a lawsuit 103,400 h. Cumulative effect of change in accounting principle (pre tax)
Assuming that the company's income tax is 30%, what are the tax effects and after-tax measures of the items labeled as pre-tax? Prepare a multi step income statement for the year
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