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Exercises 13-2 Your answer is partially correct. Try again. Trayer Corporation has income from continuing operations of $219,000 for the year ended December 31, 2017.
Exercises 13-2 Your answer is partially correct. Try again. Trayer Corporation has income from continuing operations of $219,000 for the year ended December 31, 2017. It also has the following items (before considering income taxes). 1. An unrealized loss of $72,600 on available-for-sale securities 2. A gain of $27,600 on the discontinuance of a division (comprised of a $6,400 loss from operations and a $34,000 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 15% tax rate. Prepare a statement of comprehensive income, beginning with income from continuing operations MARIGOLD CORP Partial Statement of Comprehensive Income For the Year Ended December 31, 2017 Income from Continuing Operations 186,150 Gain from Disposal 28900 Loss from Operations (5440) 234 Income Before Income Taxes 209610 Unrealized Holding Loss of Available-for-Sale 17000 Net Income/(Loss) 164900
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