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Culver Corporation has income from continuing operations of $309,000 for the year ended December 31, 2022. It also has the following items (before considering income

Culver Corporation has income from continuing operations of $309,000 for the year ended December 31, 2022. It also has the following items (before considering income taxes).

1. An unrealized loss of $69,500 on available-for-sale securities.
2. A gain of $30,000 on the discontinuance of a division (comprised of a $8,500 loss from operations and a $38,500 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.

CULVER CORPORATION Partial Income Statement choose the accounting period December 31, 2022For the Year Ended December 31, 2022For the Month Ended December 31, 2022

select an income statement item Comprehensive IncomeDiscontinued OperationsDividendsExpensesGain on DisposalIncome Before Income TaxesIncome from Continuing OperationsIncome Tax ExpenseLoss from OperationsNet Income / (Loss)Other Comprehensive IncomeRetained EarningsRevenueTotal ExpensesTotal RevenuesUnrealized Holding Loss of Available-for-Sale Securities

$enter a dollar amount

select an income statement item Comprehensive IncomeDiscontinued OperationsDividendsExpensesGain on DisposalIncome Before Income TaxesIncome from Continuing OperationsIncome Tax ExpenseLoss from OperationsNet Income / (Loss)Other Comprehensive IncomeRetained EarningsRevenueTotal ExpensesTotal RevenuesUnrealized Holding Loss of Available-for-Sale Securities

select an income statement item Comprehensive IncomeDiscontinued OperationsDividendsExpensesGain on DisposalIncome Before Income TaxesIncome from Continuing OperationsIncome Tax ExpenseLoss from OperationsNet Income / (Loss)Other Comprehensive IncomeRetained EarningsRevenueTotal ExpensesTotal RevenuesUnrealized Holding Loss of Available-for-Sale Securities

$enter a dollar amount

select an income statement item Comprehensive IncomeDiscontinued OperationsDividendsExpensesGain on DisposalIncome Before Income TaxesIncome from Continuing OperationsIncome Tax ExpenseLoss from OperationsNet Income / (Loss)Other Comprehensive IncomeRetained EarningsRevenueTotal ExpensesTotal RevenuesUnrealized Holding Loss of Available-for-Sale Securities

enter a dollar amount

enter a subtotal of the two previous amounts

select an income statement item Comprehensive IncomeDiscontinued OperationsDividendsExpensesGain on DisposalIncome Before Income TaxesIncome from Continuing OperationsIncome Tax ExpenseLoss from OperationsNet Income / (Loss)Other Comprehensive IncomeRetained EarningsRevenueTotal ExpensesTotal RevenuesUnrealized Holding Loss of Available-for-Sale Securities

enter a total amount for the first part

CULVER CORPORATION Statement of Comprehensive Income choose the accounting period For the Month Ended December 31, 2022For the Year Ended December 31, 2022December 31, 2022

select an income statement item Comprehensive IncomeDiscontinued OperationsDividendsExpensesGain on DisposalIncome Before Income TaxesIncome from Continuing OperationsIncome Tax ExpenseLoss from OperationsNet Income / (Loss)Other Comprehensive IncomeRetained EarningsRevenueTotal ExpensesTotal RevenuesUnrealized Holding Loss of Available-for-Sale Securities

enter a dollar amount

select an income statement item Comprehensive IncomeDiscontinued OperationsDividendsExpensesGain on DisposalIncome Before Income TaxesIncome from Continuing OperationsIncome Tax ExpenseLoss from OperationsNet Income / (Loss)Other Comprehensive IncomeRetained EarningsRevenueTotal ExpensesTotal RevenuesUnrealized Holding Loss of Available-for-Sale Securities

select an income statement item Comprehensive IncomeDiscontinued OperationsDividendsExpensesGain on DisposalIncome Before Income TaxesIncome from Continuing OperationsIncome Tax ExpenseLoss from OperationsNet Income / (Loss)Other Comprehensive IncomeRetained EarningsRevenueTotal ExpensesTotal RevenuesUnrealized Holding Loss of Available-for-Sale Securities

enter a dollar amount

select an income statement item Comprehensive IncomeDiscontinued OperationsDividendsExpensesGain on DisposalIncome Before Income TaxesIncome from Continuing OperationsIncome Tax ExpenseLoss from OperationsNet Income / (Loss)Other Comprehensive IncomeRetained EarningsRevenueTotal ExpensesTotal RevenuesUnrealized Holding Loss of Available-for-Sale Securities

$enter a total amount for this statement

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