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Monty Corp. has income from continuing operations of $258,100 for the year ended December 31, 2022. It also has the following items (before considering income
Monty Corp. has income from continuing operations of $258,100 for the year ended December 31, 2022. It also has the following items (before considering income taxes). 1. An unrealized loss of $71,200 on available-for-sale securities. 2. Again of $26,700 on the discontinuance of a division (comprised of a $8,900 loss from operations and a $35,600 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. MONTY CORP. Partial Statement of Comprehensive Income SHAMROCK, INC. Condensed Balance Sheet December 31 Increase or (Decrease) 2022 2021 Amount Percentage Assets Current Assets $108,600 $94,100 $ Plant assets (net) 404,100 352,600 Total assets $512,700 $446,700 Liabilities Current Liabilities $103,100 $67,600 $ Long-term liabilities 124,600 94,100 Total liabilities $227,700 $161,700 $ Stockholders' Equity Common stock, $1 par 132,600 117,600 Retained earnings 152,400 167,400 Total stockholders' equity 285,000 285,000 Total liabilities and stockholders' equity $512,700 $446,700 $
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