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Current Attempt in Progress Sheridan Corporation has income from continuing operations of $278,000 for the year ended December 31, 2022. It also has the following
Current Attempt in Progress Sheridan Corporation has income from continuing operations of $278,000 for the year ended December 31, 2022. It also has the following items (before considering income taxes). 1. An unrealized loss of $74,000 on available-for-sale securities. 2. A gain of $25,000 on the discontinuance of a division (comprised of a $19.000 loss from operations and a $44,000 gain on disposal). Assume all items are subject to income taxes at a 15% tax rate. Prepare a partial income statement, beginning with income from continuing operations, and a statement of comprehensive income. (Enter loss using either a negative sign preceding the number eg.-2.945 or parentheses eg. (2,945).) SHERIDAN CORPORATION Income Statement (Partial) eTextbook and Media Save for Later SHERIDAN CORPORATION Statement of Comprehensive Income Attempts: 0 of 8 used Submit
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