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Title: Lyon Corp reported income from continuing operations before taxes of $774,000 and income from ... Post by: christyjames on Jul 23, 2018 Lyon Corp reported income from continuing operations before taxes of $774,000 and income from discontinued operations of $198,000. Lyon also reported $77,000 of unrealized gains from fair value accounting adjustments recorded as other comprehensive income. The company is subject to a 35% tax rate and reports no permanent differences.
Prepare a partial income statement including comprehensive income. Title: Lyon Corp reported income from continuing operations before taxes of $774,000 and income from ... Post by: lolaww on Jul 23, 2018 Income from continuing operations before taxes $774,000 Income tax expense270,900 Income from continuing operations503,100 Discontinued operations - net of tax $69,300128,700 Net income$631,800 Other comprehensive income - net of tax $26,95050,050 Comprehensive income$681,850 Title: Lyon Corp reported income from continuing operations before taxes of $774,000 and income from ... Post by: christyjames on Jul 23, 2018 Marking this solved, moving on to the next...
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