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Trayer Corporation has income from continuing operations of $294,000 for the year ended December 31, 2020. It also has the following items (before considering income
Trayer Corporation has income from continuing operations of $294,000 for the year ended December 31, 2020. It also has the following items (before considering income taxes). 1. An unrealized loss of $89,000 on available-for-sale securities. A gain of $24,000 on the discontinuance of a division (comprised of a $17,000 loss from operations and a $41,000 gain on disposal). 2. 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).) TRAYER CORPORATION Partial Statement of Comprehensive Income For the Year Ended December 31, 2020 Income from Continuing Operations 294000 Discontinued Operations Gain from Disposal, Net of Income Taxes 32390 Net Income / (Loss) X A Comprehensive Income / (Loss) Click if you would like to Show Work for this question: Open Show Work
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