Gumble Corporation had income from continuing operations of $300,000 (taxes are already taken into account)...
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Accounting
Gumble Corporation had income from continuing operations of $300,000 (taxes are already taken into account) for the year ended December 31, 2018 It also had the following items (before income taxes): 1. Extraordinary flood loss of $150,000. 2. Loss of $60,000 on discontinuance of a division. The income tax rate is 30%. Instructions Prepare a partial income statement, beginning with income from continuing operations.
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