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Your answer is partially correct. Try again. In its proposed 2020 income statement, Hrabik Corporation reports income before income taxes 3490,000, income taxes $122,500 (not
Your answer is partially correct. Try again. In its proposed 2020 income statement, Hrabik Corporation reports income before income taxes 3490,000, income taxes $122,500 (not including unusual items), loss on operation or discontinued music division s55,000, gain on disposal of discontinued music division $35,000, and unrealized loss on available-for-sale securities $140,000. The income tax rate is 25%. Prepare a correct statement of comprehensive income, beginning with income before income taxes. (Enter loss using either a negative sign preceding the number e.g. -2,945 or parentheses e.g. (2,945).) HRABIK CORPORATION Partial Statement of Comprehensive Income Income before income taxes 490.000 Income tax expense -122,500 Income from continuing operations 367,500 Gain from disposal of discontinued division Loss from operations of discontinued division 26,250 Net income / (less) -41,250 -15,000 Net Income / (loss) 352,500 Unrealized holding loss on available-for-sale securities Comprehensive Income
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