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I can't figure out how to do this. If someone could show me exactly how to do this, that would be great. Question 1 Trayer
I can't figure out how to do this. If someone could show me exactly how to do this, that would be great.
Question 1 Trayer Corporation has income from continuing operations of $298,000 for the year ended December 31, 2020. It also has the following items (before considering income taxes). 1. 2. An unrealized loss of $72,000 on available-for-sale securities. Again of $33,000 on the discontinuance of a division (comprised of a $13,000 loss from operations and a $46,000 gain on disposal). Assume all items are subject to income taxes at a 21% tax rate. Prepare a statement of comprehensive income, beginning with income from continuing operations. (Enter loss using either a negative sign preceding the number e.g. -2,945 or parentheses e.g. (2,945).) TRAYER CORPORATION Partial Statement of Comprehensive Income For the Year Ended December 31, 2020 - Income from Continuing Operations 298000 Discontinued Operations Loss from Operations, Net of Income Tax Savings $ -14220 Net Income / (Loss) 316960 18960 Gain from Disposal, Net of Income Taxes 33180 Net Income /(Loss) Other Comprehensive Income Total ExpensesStep by Step Solution
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