Paris Company reported the following items in its December 31, 2011, year-end Income from...
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Accounting
Paris Company reported the following items in its December 31, 2011, year-end
Income from continuing operations before income taxes $320,000
Extraordinary gain on litigation settlement 60,000
Extra ordinary flood loss (18,000)
Paris is subject to 40% income tax rate
Prepare the December 31, 2011, income statement for Paris Company starting with income continuing operations before income tax.
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