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Q3- Snowman Corporation needs your help in preparing a partial income statement. The information you need is given below,
Tax 20%
Operating Income $200,000
Interest Expense $20,000
Loss from selling a business subsidiary (before tax) $ 56,000
Loss due to unusual and infrequent item (before tax) $40,000
Gain due to extraordinary item $51,000
Required: Prepare the partial income statement.
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