Exercise 9-2

Grouper Corp. has income from continuing operations of $358,000 for the year ended December 31, 2017. It also has the following items (before considering income taxes).

1.An unrealized loss of $65,900 on available-for-sale securities.

2.A gain of $34,400 on the discontinuance of a division (comprised of a $5,200 loss from operations and a $39,600 gain on disposal).

3.A correction of an error in last year's financial statements that resulted in a $20,000 understatement of 2016 net income.

Assume all items are subject to income taxes at a 25% tax rate.

statement of comprehensive income, beginning with income from continuing operations.