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An inexperienced accountant for Ayayai Corp, showed the following in the income statement: income before income taxes $400,000 and unrealized gain on available-for-sale securities (before
An inexperienced accountant for Ayayai Corp, showed the following in the income statement: income before income taxes $400,000 and unrealized gain on available-for-sale securities (before taxes) $91,700. The unrealized gain on available-for-sale securities and income before income taxes are both subject to a 26% tax rate. Prepare a correct statement of comprehensive income. AYAYAI CORP. Partial Statement of Comprehensive Income Comprehensive Income $ AYAYAI CORP. Partial Statement of Comprehensive Income $ Dividends Expenses Net Income /(Loss) Retained Earnings Revenue Total Expenses Total Revenues Income Tax Expense Other Comprehensive Income Unrealized Holding Gain on Available-for-Sale Securities Income Before Income Taxes Comprehensive Income Comprehensive Income
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