Trayer Corporation has income from continuing operations of $294,000 for the year ended December 31, 2017. It also has the following items (before considering income taxes).

Trayer Corporation has income from continuing operations of $294,000 for the year ended December 31, 2017. It also has the following items (before considering income taxes) 1. 2. 3. An unrealized loss of $88,000 on available-for-sale securities. A gain of $33,000 on the discontinuance of a division (comprised of a $16,000 loss from operations and a $49,000 gain on disposal). A correction of an error in last year's financial statements that resulted in a $13,000 understatement of 2016 net income Assume all items are subject to income taxes at a 16% tax rate