The following amounts were taken from the income statement of LFM Company for the year ending December 31, 2011:

Income from discontinued operations:

In addition, LFM reported the following items (all items are before taxes):

The tax rate on all items is 40%.
Prepare a statement of comprehensive income in a one-statement format.

Question

The following amounts were taken from the income statement of LFM Company for the year ending December 31, 2011:
  
Income from discontinued operations:
  
In addition, LFM reported the following items (all items are before taxes):
  
The tax rate on all items is 40%.
Prepare a statement of comprehensive income in a one-statement format.

Quizplus · Accepted Answer

The Answer of The following amounts were taken from the income statement of LFM Company for the year ending December 31, 2011:
  
Income from discontinued operations:
  
In addition, LFM reported the following items (all items are before taxes):
  
The tax rate on all items is 40%.
Prepare a statement of comprehensive income in a one-statement format.

The Following Amounts Were Taken from the Income Statement of LFM