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Exercise 18-02 Trayer Corporation has income from continuing operations of $288,000 for the year ended December 31, 2020. It also has the following items
Exercise 18-02 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 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).)
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