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Prepare a correct statement of comprehensive income

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Question - In its proposed 2020 income statement, Hrabik Corporation reports income before income taxes $493,000, income taxes $142,970 (not including unusual items), loss on operation of discontinued music division $56,000, gain on disposal of discontinued music division $40,000, and unrealized loss on available-for-sale securities $158,000. The income tax rate is 29%. Prepare a correct statement of comprehensive income, beginning with income before income taxes.

Reference no: EM133016407

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