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Pronghorn Corp has income from continuing operations of $267,000 for the year ended December 31, 2017. It also has the following items (before considering income
Pronghorn Corp has income from continuing operations of $267,000 for the year ended December 31, 2017. It also has the following items (before considering income taxes). 1. An unrealized loss of $70,800 on available-for-sale securities. 2. A gain of $28,700 on the discontinuance of a division (comprised of a $8,400 loss from operations and a $37,100 gain on disposal). 3. A correction of an error in last year's financial statements that resulted in a $20,000 understatement of 2016 net income Assume all items are subject to income taxes at a 15% tax rate Prepare a statement of comprehensive income, beginning with income from continuing operations. PRONGHORN CORP Partial Statement of Income
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