Stacy Corporation had income before income taxes for 2012 of $6,329,000. In addition, it suffered unusual and infrequent pretax loss of $778,400 from a volcano eruption. The corporation%u2019s tax rate is 30%.
Prepare a partial income statement for Stacy beginning with income before income taxes. The corporation had 4,902,000 shares of common stock outstanding during 2012.