Canton Corporation reported the following items in its adjusted trial balance for the year ended December 31, 2009:
Canton is subject to a 30% tax rate.
Required: Prepare the December 31, 2009, income statement for Canton Corporation, starting with income from continuing operations before income taxes.

Question

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The Answer of Canton Corporation reported the following items in its adjusted trial balance for the year ended December 31, 2009:
Canton is subject to a 30% tax rate.
Required: Prepare the December 31, 2009, income statement for Canton Corporation, starting with income from continuing operations before income taxes.

Canton Corporation Reported the Following Items in Its Adjusted Trial