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Flint Corporation has income from continuing operations of $389,000 for the year ended December 31, 2022. It also has the following items (before considering
Flint Corporation has income from continuing operations of $389,000 for the year ended December 31, 2022. It also has the following items (before considering income taxes). 1. An unrealized loss of $87,000 on available-for-sale securities. 2. A gain of $40,700 on the discontinuance of a division (comprised of a $7,400 loss from operations and a $48,100 gain on disposal). Assume all items are subject to income taxes at a 20% tax rate. Prepare a partial income statement, beginning with income from continuing operations, and a statement of comprehensive income. FLINT CORPORATION Partial Income Statement +A > +A T.... FLINT CORPORATION Statement of Comprehensive Income +A $
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