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Exercise 9-1 For its fiscal year ending October 31, 2017, Whispering Winds Corp. reports the following partial data shown below Income before income taxes Income
Exercise 9-1 For its fiscal year ending October 31, 2017, Whispering Winds Corp. reports the following partial data shown below Income before income taxes Income tax expense (23% $555,000) 127,650 Income from continuing operations Loss on discontinued operations Net income $591,000 463,350 138,500 $324,850 The loss on discontinued operations was comprised of a $59,000 loss from operations and a $79,500 loss from disposal. The income tax rate is 23% on all items. Prepare a correct statement of comprehensive income beginning with income before income taxes. WHISPERING WINDS CORP Partial Statenent of Net Income/(Loss) Total Revenues Loss from Operations Comprehensive Income Unrealized Holding Loss of Available-for-Sale Securities Dividends Loss on Disposal Retained Earnings Expenses Income from Continuing Operations Total Expenses Income Tax Expense Income Before Income Taxes Other Comprehensive Income Discontinued Operations
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