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Your answer is partially correct. Try again. In its proposed 2020 income statement, Hrabik Corporation reports income before income taxes $504,000, income taxes $176,400 (not
Your answer is partially correct. Try again. In its proposed 2020 income statement, Hrabik Corporation reports income before income taxes $504,000, income taxes $176,400 (not including unusual items), loss on operation of discontinued music division $55,000, gain on disposal of discontinued music division $36,000, and unrealized loss on available-for-sale securities $151,000. The income tax rate is 35%. 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 T Income before income taxes 504000 Income tax expense 176400 Income from continuing operations 327600 T Discontinued operations T Loss from operations of discontinued division 19250 T Gain from disposal of discontinued division 23400 12350 T Net income / (loss) 315250 Other comprehensive income Unrealized holding loss on available-for-sale securities 98150 T Comprehensive income 217100
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