During 2022, Hrabik Corporation had the following amounts, all before calculating tax effects: income before income taxes

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During 2022, Hrabik Corporation had the following amounts, all before calculating tax effects: income before income taxes $500,000, loss on operation of discontinued music division $60,000, gain on disposal of discontinued music division $40,000, and unrealized loss on available-for-sale securities $150,000. The income tax rate is 20%. Prepare a partial income statement, beginning with income before income taxes, and a statement of comprehensive income for the year ended December 31, 2022.

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Managerial Accounting Tools For Business Decision Making

ISBN: 9781119754053

9th Edition

Authors: Jerry J Weygandt, Paul D Kimmel, Jill E Mitchell

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