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Swifty Corporation has income from continuing operations of $272,000 for the year ended December 31,2022 . It also has the following items (before considering income
Swifty Corporation has income from continuing operations of $272,000 for the year ended December 31,2022 . It also has the following items (before considering income taxes). 1. An unrealized loss of $82,000 on available-for-sale securities. 2. A gain of $31,000 on the discontinuance of a division (comprised of a $15,000 loss from operations and a $46,000 gain on disposal). Assume all items are subject to income taxes at a 15% tax rate. Prepare a partial income statement, beginning with income from continuing operations, and a statement of comprehensive income. (Enter loss using either a negative sign preceding the number e.g. -2,945 or parentheses e.g. (2,945). SWIFTY CORPORATION Statement of Comprehensive Income For the Year Ended December 31, 2022 Net Income / (Loss) $298,350 Other Comprehensive Income Unrealized Holding Loss on Available-for-Sale Securities Comprehensive Income / (Loss)
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