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Bramble Corp. has income from continuing operations of $379,000 for the year ended December 31, 2022. It also has the following items (before considering
Bramble Corp. has income from continuing operations of $379,000 for the year ended December 31, 2022. It also has the following items (before considering income taxes). 1. An unrealized loss of $81,100 on available-for-sale securities. 2. A gain of $33,600 on the discontinuance of a division (comprised of a $7,000 loss from operations and a $40,600 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. BRAMBLE CORP. Partial Income Statement For the Year Ended December 31, 2022 Income from Continuing Operations Discontinued Operations Loss from Operations Gain from Disposal Net Income/(Loss) BRAMBLE CORP. Statement of Comprehensive Income For the Year Ended December 31, 2022 $ -5460 31668 379000 26208 405208
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