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Ayayai Corp. has income from continuing operations of $200,000 for the year ended December 31, 2022. It also has the following items (before considering
Ayayai Corp. has income from continuing operations of $200,000 for the year ended December 31, 2022. It also has the following items (before considering income taxes). 1. An unrealized loss of $50,000 on available-for-sale securities. 2. A gain of $25,000 on the discontinuance of a division (comprised of a $5,000 loss from operations and a $30,000 gain on disposal). Assume all items are subject to income taxes at a 20% tax rate. Prepare a partial income statement, beginning with income from continuing operations, and a statement of comprehensive income. AYAYAI CORP. Partial Income Statement For the Year Ended December 31, 2022 AYAYAI CORP. Statement of Comprehensive Income $ Ayayai Corp. has income from continuing operations of $200,000 for the year ended December 31, 2022. It also has the following items (before considering income taxes). 1. An unrealized loss of $50,000 on available-for-sale securities. 2. A gain of $25,000 on the discontinuance of a division (comprised of a $5,000 loss from operations and a $30,000 gain on disposal). Assume all items are subject to income taxes at a 20% tax rate. Prepare a partial income statement, beginning with income from continuing operations, and a statement of comprehensive income. AYAYAI CORP. Partial Income Statement For the Year Ended December 31, 2022 Dividends Other Comprehensive Income Net Income/ (Loss) Expenses Loss from Operations Unrealized Holding Loss of Available-for-Sale Securities Gain from Disposal Total Expenses Retained Earnings Income from Continuing Operations Discontinued Operations Comprehensive Income Total Revenues Income Before Income Taxes Revenue Income Tax Expense Income $
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