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Fill out a correct statement of comprehensive income

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Reference no: EM132419088

Problem: For its fiscal year ending October 31, 2022, Bramble Corp. reports the following partial data shown below.

Income before income taxes $561,600

Income tax expense (20% × $436,800) 87,360

Income from continuing operations 474,240

Loss on discontinued operations 124,800

Net income $349,440

The loss on discontinued operations was comprised of a $52,000 loss from operations and a $72,800 loss from disposal. The income tax rate is 20% on all items.

Teach me and explain how to fill out a correct statement of comprehensive income, beginning with income before income taxes.

Reference no: EM132419088

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