Question
Bramble Corp. has income from continuing operations of $464,000 for the year ended December 31, 2022. It also has the following items (before considering income
Bramble Corp. has income from continuing operations of $464,000 for the year ended December 31, 2022. It also has the following items (before considering income taxes).
1. | An unrealized loss of $128,000 on available-for-sale securities. | |
2. | A gain of $48,000 on the discontinuance of a division (comprised of a $16,000 loss from operations and a $64,000 gain on disposal). |
Assume all items are subject to income taxes at a 20% tax rate. Prepare a statement of comprehensive income, beginning with income from continuing operations.
BRAMBLE CORP. Partial Statement of Comprehensive Income choose the accounting period December 31, 2022For the Month Ended December 31, 2022For the Year Ended December 31, 2022 | ||||
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select a comprehensive income item DividendsUnrealized Holding Loss of Available-for-Sale SecuritiesNet Income / (Loss)Total RevenuesDiscontinued OperationsIncome from Continuing OperationsIncome Tax ExpenseIncome Before Income TaxesExpensesTotal ExpensesLoss from OperationsRetained EarningsGain from DisposalRevenueOther Comprehensive IncomeComprehensive Income | $enter a dollar amount | |||
select a comprehensive income item Income Before Income TaxesDividendsGain from DisposalRetained EarningsNet Income / (Loss)Income from Continuing OperationsComprehensive IncomeUnrealized Holding Loss of Available-for-Sale SecuritiesIncome Tax ExpenseOther Comprehensive IncomeDiscontinued OperationsLoss from OperationsExpensesRevenueTotal ExpensesTotal Revenues | ||||
select a comprehensive income item Income Before Income Taxes Revenue Loss from Operations Income from Continuing Operations Net Income / (Loss) Total Expenses Dividends Discontinued Operations Gain from Disposal Total Revenues Expenses Retained Earnings Other Comprehensive Income Comprehensive Income Income Tax Expense Unrealized Holding Loss of Available-for-Sale Securities | $enter a dollar amount | |||
select a comprehensive income item Expenses Unrealized Holding Loss of Available-for-Sale Securities Income from Continuing Operations Discontinued Operations Net Income / (Loss) Total Revenues Other Comprehensive Income Dividends Revenue Retained Earnings Total Expenses Income Tax Expense Income Before Income Taxes Loss from Operations Gain from Disposal Comprehensive Income | enter a dollar amount | |||
enter a subtotal of the two previous amounts | ||||
select a summarizing line for the first part Income Tax ExpenseTotal ExpensesNet Income / (Loss)Comprehensive IncomeIncome Before Income TaxesUnrealized Holding Loss of Available-for-Sale SecuritiesGain from DisposalRevenueDiscontinued OperationsLoss from OperationsDividendsRetained EarningsOther Comprehensive IncomeIncome from Continuing OperationsExpensesTotal Revenues | enter a total net income or loss amount | |||
select an opening section name RevenueComprehensive IncomeRetained EarningsNet Income / (Loss)Total ExpensesGain from DisposalLoss from OperationsIncome Before Income TaxesDiscontinued OperationsTotal RevenuesOther Comprehensive IncomeUnrealized Holding Loss of Available-for-Sale SecuritiesIncome from Continuing OperationsDividendsIncome Tax ExpenseExpenses | ||||
select a comprehensive income item Revenue Total Revenues Discontinued Operations Total Expenses Expenses Other Comprehensive Income Income Tax Expense Comprehensive Income Income Before Income Taxes Loss from Operations Gain from Disposal Unrealized Holding Loss of Available-for-Sale Securities Income from Continuing Operations Dividends Net Income / (Loss) Retained Earnings | enter a dollar amount | |||
select a closing name for this statement Total RevenuesRetained EarningsIncome Before Income TaxesLoss from OperationsNet Income / (Loss)Gain from DisposalDiscontinued OperationsComprehensive IncomeExpensesRevenueDividendsOther Comprehensive IncomeTotal ExpensesUnrealized Holding Loss of Available-for-Sale SecuritiesIncome Tax ExpenseIncome from Continuing Operations | $enter a total amount for this statement |
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