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Trayer Corporation has income from continuing operations of $298, 000 for the year ended December 31, 2017. It also has the following items (before considering
Trayer Corporation has income from continuing operations of $298, 000 for the year ended December 31, 2017. It also has the following items (before considering income taxes). An unrealized loss of $77, 000 on available-for-sale securities. A gain of $25, 000 on the discontinuance of a division (comprised of a $18, 000 loss from operations and a $43, 000 gain on disposal). A correction of an error in last year's financial statements that resulted in a $15, 000 understatement of 2016 net income. Assume all items are subject to income taxes at a 21% tax rate. (a) Prepare a statement of comprehensive income, beginning with income from continuing operations
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