9. Corona Corporation's financial statements for the current year include the following: Income before...
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9. Corona Corporation's financial statements for the current year include the following:
Income before income tax$ 627,800Income tax expense$ 134,000Prior period adjustment (increase in prior year net income, net of taxes)$ 131,300Cash dividends paid to preferred stockholders$ 269,880Gain from discontinued operations (net of taxes)$ 410,032Non-recurring loss$ 127,200
On the basis of this information, net income for the current year is:
A. $1,031,032
B. $493,800
C. $776,232
D. $903,832
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