Prepare income statement for shaquille corporation

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Reference no: EM131522421

Question: Shaquille Corporation has income before tax of $1.2 million and income tax expense of $300,000 for the year ended December 31, 2012, before considering the following items:

(1) a $225,000 gain, after tax, from the disposal of an operating segment, and

(2) an extraordinary loss of $150,000, after tax, due to a plant explosion.

Required: Prepare the 2012 income statement for Shaquille Corporation beginning with income before tax.

Reference no: EM131522421

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