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Prepare a correct statement of comprehensive income

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Question - For its fiscal year ending October 31, 2017, Bramble Corp. reports the following partial data shown below.

Income before income taxes $643,000

Income tax expense (17% x $467,000) 79,390

Income from continuing operations 563,610

Loss on discontinued operations 128,300

Net income $435,310

The loss on discontinued operations was comprised of a $59,900 loss from operations and a $68,400 loss from disposal. The income tax rate is 17% on all items.

Prepare a correct statement of comprehensive income, beginning with income before income taxes.

Reference no: EM132350652

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