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Sarasota Corp. has income from continuing operations of $324,000 for the year ended December 31, 2022. It also has the following items (before considering income
Sarasota Corp. has income from continuing operations of $324,000 for the year ended December 31, 2022. It also has the following items (before considering income taxes). 1. An unrealized loss of $88,600 on available-for-sale securities. Again of $23.400 on the discontinuance of a division (comprised of a $7,100 loss from operations and a $30,500 gain on disposal). 2. Assume all items are subject to income taxes at a 20% tax rate. Prepare a partial income statement, beginning with income from continuing operations, and a statement of comprehensive income. SARASOTA CORP. Partial Income Statement For the Year Ended December 31, 2022 Income from Continuing Operations $ Discontinued Operations $ Loss from Operations > Gain from Disposal Net Income /(Loss) SARASOTA CORP Statement of Comprehensive Income For the Year Ended December 31, 2022 $
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