On June 30, Sheffield Corporation discontinued its operations in Mexico. During the year, the operating income was $292,000 before taxes. On September 1, Sheffield disposed of the Mexico facility at a pretax loss of $692,000. The applicable tax rate is 25%. Show the discontinued operations section of Sheffields income statement. (Enter loss using either a negative sign preceding the number e.g. -2,945 or parentheses e.g. (2,945).)

An inexperienced accountant for Sheridan Corporation showed the following in the income statement: net income $278,250 and unrealized gain on available-for-sale securities (before taxes) $88,700. The unrealized gain on available-for-sale securities is subject to a 25% tax rate Prepare a correct statement of comprehensive income. (Enter loss using either a negative sign preceding the number e.g. -2,945 or parentheses e.g. (2,945).)

The following data were taken from the financial records of Sunland Company.

		2022			2021
Net Sales		$6,480,000			$6,250,000
Beginning inventory		1,000,000			850,000
Purchases		4,363,000			4,590,000
Ending inventory		1,020,000			1,000,000

(a1)

(a2)

Compute for each year the days in inventory. (Use 365 days for calculation. Round answers to 1 decimal place, e.g. 1.6.)

		2022		2021
Days in inventory		enter a number of days days		enter a number of days