Enter your Payment Assignment Open Assignment ASSIGNMENT RE

Enter your Payment Assignment > Open Assignment ASSIGNMENT RESOURF For its filscal year ending October 31, 2017, Haas Corporation reports the following partial data shown below. HOMEWORK ASSIGNMUNT ONE- Income before income taxes Income tax expense (27% x $428,000) Income from continuing operations Loss on discentinued operations Net income $560,000 115,560 444 440 132,000 312,440 RevieStore Revicw Reselts by Study obiective The loss on discontinued operations was comprised of a $58,000 loss from operations and a $74,000 loss from disposal. The income tax rate is 27% on all Prepare a correct statement of comprehensive income beginning with income before income taxes. HAAS CORPORATI Statement LicenseAattement i maxpalicr l 2009.201a JohnnitasenunG A\" Rights Reserved. A Div sion of lohnwilerASotsine. .^ @ Type here to search

Solution

Statement of Comprehensive income (partial) Income before income taxes 560,000 income tax expense 115,560 income from continuing operations 444,440 Loss from operations net of 15,660           income tax savings 42340 loss from disposal net of                income tax savings 54020 Net income 348,080 58000*27%= 15660 74000*27%= 19980