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Current Attempt in Progress Dos Amugus Company has income from continuing operations of $621,000 (after tax) for the year ended December 31, 2017. It also
Current Attempt in Progress Dos Amugus Company has income from continuing operations of $621,000 (after tax) for the year ended December 31, 2017. It also has the following items (before considering income taxes): 11) An unrealized loss of $120,000 available-for-sale-securities (2) Again of $60,000 on the discontinuance of a major component. (3) Acumulative effect of a change in accounting principle that resulted in an increase in prior years' depreciation of $50,000. Assume all items are subject to income taxes at a 30% tax rate. Prepare an income statement, beginning with income from continuing operations. DOS AMUGUS COMPANY Partial Statement of Comprehensive Income For the Year Ended December 31, 2017
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