Question

CALCULATOR FULL SCREEN PRINTER VERSION BACK NEXT Do It Review 18-01 In its proposed 2020 income statement, Hrabik Corporation reports income before income taxes $490,000, income taxes $156,800 (not including unusual items), loss on operation of discontinued music division $61,000, gain on disposal of discontinued music division $42,000, and unrealized loss on available for sale securities $154,000. The income tax rate is 32% Prepare a correct statement of comprehensive income, beginning with income before income taxes. (Enter loss using either a negative sign preceding the number c.g. -2,945 or parentheses e.. (2,945).) HRABIK CORPORATION Partial Statement of comprehensive Income Version 44.18 n o n inel Bints RSS A Division of an aning

Answer 1

HRABIK CORPORATION partial statement of comprehensine Income I particulars Anting Income before income taxes 490,000 cessi Income tax (156,800) Income from continuing 333,200 operations Les i loss on operations discounted operations het of tax [61600x(1-0.32 4 1480). i Grain on disposal, discontinued operations net of tax 1520001 (1-0-32] 28560 Income before extraordinary Items Com o Extraordinary loss net of 320,280 - costs tax al Net Income 320.280 Note: The gains and losses derived from an AFS : Security are not reflected in net Income -

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