Memorax Company earned before-tax income of $880,000 for its

Assignment Help Finance Memorax Company earned before-tax income of $880,000 for its

Finance

Memorax Company earned before-tax income of $880,000 for its

Memorax Company earned before-tax income of $880,000 for its 2013 fiscal year. During the year… Show more Memorax Company earned before-tax income of $880,000 for its 2013 fiscal year. During the year the company experienced a $565,000 loss from earthquake damage that it considered to be an extraordinary item. This loss is not included in the $880,000 before-tax income figure. The company’s income tax rate is 40%. Prepare the lower portion of the 2013 income statement beginning with $880,000. (Amounts to be deducted should be indicated with a minus sign.) check my work • Show less

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