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Exercise 14-2 Your answer is partially correct. Try again. Trayer Corporation has income from continuing operations of $288,000 for the year ended December 31, 2020.
Exercise 14-2 Your answer is partially correct. Try again. Trayer Corporation has income from continuing operations of $288,000 for the year ended December 31, 2020. It also has the following items (before considering income taxes). 1. 2. An unrealized loss of $70,000 on available-for-sale securities. A gain of $33,000 on the discontinuance of a division (comprised of a $15,000 loss from operations and a $48,000 gain on disposal). Assume all items are subject to income taxes at a 16% tax rate. Prepare a statement of comprehensive income, beginning with income from continuing operations. (Enter loss using either a negative sign preceding the number e.g. -2,945 or parentheses e.g. (2,945).) TRAYER CORPORATION Partial Statement of Comprehensive Income For the Year Ended December 31, 2020 A Income from Continuing Operations T Discontinued Operations Gain from Disposal, Net of Income Taxes TLoss from Disposal of Discontinued Division T Net Income / (Loss) Unrealized Holding Loss on Available-for-Sale Securities T Gain from Disposal, Net of Income Taxes T Comprehensive Income /(Loss)
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