Question #14: Instructions: Prepare a statement of comprehensive income for the year ended December 31, 2017 (using format below). The ledger of Gower Limited at December 31, 2017, contains the following summary data.

Net sales	1,580,000		Cost of goods sold	1,100,000
Selling expenses	70,000		Administrative expenses	90,000
Other income and expense	(6,000)

Your analysis reveals the following additional information that is not included in the above-listed data.

The entire puzzles division was discontinued on August 31, 2017. The income from operations for this division before income taxes was 15,000. The puzzles division was sold at a loss of 74.000 before income taxes.

The company had an unrealized gain on non-trading securities of 120,000 before income taxes for the year.

The income tax rate on all items is 30%.

GOWER LIMITED Statement of Comprehensive Income For the Year Ended December 31, 2017
Net Sales .
Cost of goods sold .
Gross profit ...
Selling and administrative expenses ...
Income from operations ...
Other income and expense ..
Income before income taxes ..
Income tax expense .....
Income from continuing operations ..
Discontinued operations Income from operations of discontinued division, net of income taxes ..
Loss on sale of discontinued division, net of income tax saving .................................
Net Income .
Other Comprehensive income Unrealized gain on nontrading securities, net of income taxes ....
Comprehensive income