For its fiscal year ending October 31, 2017, Blue Spruce Corp. reports the following partial data...
For its fiscal year ending October 31, 2017, Blue Spruce Corp. reports the following partial data shown below.
| Income before income taxes | $573,000 | |
| Income tax expense (25% × $557,000) | 139,250 | |
| Income from continuing operations | 433,750 | |
| Loss on discontinued operations | 118,200 | |
| Net income | $315,550 |
Prepare a correct statement of comprehensive income, beginning
with income before income taxes.
Homework Answers
| PARTICULARS | AMOUNT($) |
| Income before Taxes | 573000 |
| Less Income Tax Expense | (139250) |
| Income from Continuing Operations | 433750 |
|
Discountinued Operations Loss from Discountinued Operations |
(118200) |
| Net Income | 315550 |
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For its fiscal year ending October 31, 2017, Blue Spruce Corp.
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