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Preparing the Nonoperating Items Section of an Income Statement Gomez Inc. reported the following pretax...

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Accounting

Preparing the Nonoperating Items Section of an Income Statement Gomez Inc. reported the following pretax amounts for the year. Loss from discontinued operations $96,000 Gain on sale of investments 10,000 36,000 800,000 96,000 Interest expense Operating income Loss on sale of patent Assuming an income tax rate of 25%, prepare the income statement beginning with Operating income. Ignore the earnings per share disclosures. Note: Use a negative sign only for an expense or loss item included in the section Other Revenues (Expenses).
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Preparing the Nonoperating Items Section of an Income Statement Gomez inc. reported the following pretax amounts for the year. Assuming an income tax rate of 25%, prepare the income statement beginning with Operating income. Ignore the earnings per share disclosures. Note: Use a negative sign only for an expense or loss item included in the section Other Revenues (Expenses). Assuming an income tax rate of 25%, prepare the income statement beginning with Operating income. Ignore the earnings per share disclosures. Note: Use a negative sign only for an expense or loss item included in the section Other Revenues (Expenses)

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