Problem 14-9A You r answer is partially correct. Try again. The ledger of Jaime Corporation at December 31, 2017, contains the following summary data. $1,700,000 Cost of goods sold $1,100,000 150,000 28,000 Net sales Selling expenses Other revenues a 120,000 Administrative expenses nd g ains 20,000 Other expenses and losses Your analysis reveals the following additional information that is not included in the above data. 1. The entire Puzzles Division was discontinued on August 31. The income from operation for this division before income taxes was $20,000. The Puzzles Division was sold at a loss of $90,000 before income taxes. 2. The company had an unrealized gain on available-for-sale securities of $120,000 before income taxes for the year 3. The income tax rate on all items is 25%. Prepare a statement of comprehensive income for the year ended December 31, 2017 JAIME CORPORATION Statement of For the Year Ended December 31, 2017 Net Sales 1700000 Cost of Goods Sold 1100000 Gross Profit(Loss 600000 Selling and Administrative 120000 Income from 480000 Other Expenses and Losses 28000 Other Revenues and Gains 20000 -8000 Gross Profit/Loss 472000 Income Tax 118000 Net Income (Loss 354000 Income from Operations Loss on Sale of Discontinued Division 15000 Income before Income Taxes 57500 82500 Income before Income Taxes 436500 Unrealized Gain 90000 Net Income/(Loss 526500