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Trayer Corporation has income from continuing operations of $325,000 for the year ended December 31, 2017. It also has the following items (before considering income

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Trayer Corporation has income from continuing operations of $325,000 for the year ended December 31, 2017. It also has the following items (before considering income taxes). 1. An unrealized loss of $70,900 on available for sale securities. Again of $23,200 on the discontinuance of a division (comprised of a $7,500 loss from operations and a $30,700 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 18% tax rate. Prepare a statement of comprehensive income, beginning with income from continuing operations. NOVAK CORP. Partial Statement of Comprehensive Income For the Year Ended December 31, 2017 Income from Continuing Operations 325000 Discontinued Operations Gain from Disposal 19024 Loss from Operations (6150) 12874 Net Income /(Loss) 312126 Other Comprehensive Income Unrealized Holding Loss of Available for Sale Securities 16400 Comprehensive Income 328526

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