Trayer Corporation has income from continuing operations of $290,000 for the year ended December 31, 2022. It also has the following items (before considering income taxes).

An unrealized loss of $80,000 on available-for-sale securities. A gain of $30,000 on the discontinuance of a division (comprised of a $10,000 loss from operations and a $40,000 gain on disposal).

Assume all items are subject to income taxes at a 20% tax rate.

Instructions

Prepare a partial income statement, beginning with income from continuing operations.