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Wildcat Corporation reported the following items in its adjusted trial balance for the year ended December 31, 2021: Income from continuing operations before income taxes
Wildcat Corporation reported the following items in its adjusted trial balance for the year ended December 31, 2021:
Income from continuing operations before income taxes | $ | 100,000 | |
Gain on disposal of discontinued component | 19,000 | ||
Loss from operations of discontinued component | (40,000 | ) | |
Wildcat Corporation is subject to a 30% tax rate. Required: Prepare the December 31, 2021, income statement for Wildcat Corporation, starting with income from continuing operations before income taxes.
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