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Utech Company has income before irregular items of $306,700 for the year ended December 31, 2014. It also has the following items (before considering income taxes):

(1) an extraordinary fire loss of $58,000 and

(2) a gain of $35,600 from the disposal of a division. Assume all items are subject to income taxes at a 31% tax rate. Prepare Utech Company’s income statement for 2014, beginning with “Income before irregular items.

Reference no: EM13928467

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