Trayer Corporation has income from continuing operations of $276,400 for the year ended December 31, 2014 it also has the following items before considering income taxes and extraordinary loss of $71,200 a gain of $41,800 on the discontinuance of a division a correction of an era in last years financial statement that resulted in $10,600 understatement of 2013 that income assume all items are subject to income tax at 33% tax rate