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Grouper Corp. has income from continuing operations of $249,400 for the year ended December 31, 2022. It also has the following items (before considering income
Grouper Corp. has income from continuing operations of $249,400 for the year ended December 31, 2022. It also has the following items (before considering income taxes).
1. | An unrealized loss of $68,800 on available-for-sale securities. | |
2. | A gain of $25,800 on the discontinuance of a division (comprised of a $8,600 loss from operations and a $34,400 gain on disposal). |
Assume all items are subject to income taxes at a 20% tax rate. Prepare a statement of comprehensive income, beginning with income from continuing operations.
Assume all items are subject to income taxes at a 20% tax rate. Prepare a statement of comprehensive income, beginning with income from continuing operations. GROUPER CORP. Partial Statement of Comprehensive Income For the Year Ended December 31, 2022 Income Before Income Taxes $ Discontinued Operations Loss from Operations $ Gain from Disposal Net Income /(Loss) Other Comprehensive Income in de Unrealized Holding Loss of Available-for-Sale Securities Comprehensive Income $
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