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Problem 14-8A Terwilliger Corporation owns a number of crulse ships and a chain of hotels. The hotels, which have not been profitable, were discontinued on
Problem 14-8A Terwilliger Corporation owns a number of crulse ships and a chain of hotels. The hotels, which have not been profitable, were discontinued on September 1, 2017. The 2017 operating results for the company were as follows Operating revenues Operating expenses Operating income $12,850,000 8,700,000 $ 4,150,000 Analysis discloses that these data include the operating results of the hotel chain, which were operating revenues $1,500,000 and operating expenses $2,400,000. The hotels were sold at a gain of $200,000 before taxes. This gain is not included in the operating results, During the year, Terwilliger had an unrealized loss on its available-for-sale securities of $600,000 before taxes, which is not included in the operating results. In 2017, the company had other revenues and gains of $100,000, which are not included in the operating results. The corporation is in the 30% income tax bracket. Prepare a statement of comprehensive income. TERWILLIGER CORPORATION Statement of Comprehensive Income
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