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Trayer Corporation has income from continuing operations of $266,000 for the year ended December 31, 2020. It also has the following items (before considering income
Trayer Corporation has income from continuing operations of $266,000 for the year ended December 31, 2020. It also has the following items (before considering income taxes).
1. | An unrealized loss of $84,000 on available-for-sale securities. | |
2. | A gain of $27,000 on the discontinuance of a division (comprised of a $16,000 loss from operations and a $43,000 gain on disposal). |
Assume all items are subject to income taxes at a 21% tax rate. Prepare a statement of comprehensive income, beginning with income from continuing operations. (Enter loss using either a negative sign preceding the number e.g. -2,945 or parentheses e.g. (2,945).)
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