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Question : Question Howard Co.'s 2016 income from continuing operations before income taxes

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Howard Co.'s 2016 income from continuing operations before income taxes was $292,000. Howard Co. reported a before-tax income on discontinued operations of $68,000. All tax items are subject to a 32% tax rate. In its income statement for 2016, Howard Co. would show the following line-item amounts for net income and income tax expense:

 

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