An inexperienced accountant for Flint Corporation showed the following in the income statement: net income $342,000 and unrealized gain on available-for-sale securities (before taxes) $73,500. The unrealized gain on available-for-sale securities is subject to a 25% tax rate. An inexperienced accountant for Flint Corporation showed the following in the income statement: net income $342,000 and unrealized gain on available-for-sale securities (before taxes) $73,500. The unrealized gain on available-for-sale securities is subject to a 25% tax rate