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Prepare a partial income statement

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Question - During 2022, Concord Corporation had the following amounts, all before calculating tax effects: income before income taxes $509,000, loss on operation of discontinued music division $55,000, gain on disposal of discontinued music division $41,000, and unrealized loss on available-for-sale securities $155,000. The income tax rate is 27%. Prepare a partial income statement, beginning with income before income taxes, and a statement of comprehensive income for the year ended December 31, 2022.

Reference no: EM133141708

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